Xiaomi (Mi) Plans to Launch 6 New Smartphones in India this Year
Xiaomi plans to launch 6 more smartphones in India and expand its non-smartphones portfolio in the country says Manu Kumar Jain, Xiaomi Global VP, and India Head.
In an interview, Xiaomi global vice-president and India head Manu Kumar Jain said the Chinese firm, which has been a prolific investor in India’s rapidly-growing start-up ecosystem in recent times, will look to write a mix of small and large cheques to acquire stakes in software and internet start-ups over the next 12 months, while increasing the pace of its investments over the next few years, as part of its broader strategy to invest $1 billion in Indian ventures.
“Our journey in India has just started. We can achieve a lot more on every front,” said Jain, who was elevated to a global role last year.
Xiaomi plans to open 100 more exclusive stores across India
Without doubt, Xiaomi’s online flash sales strategy has been instrumental in their success allowing them to become India’s top smartphone vendor with 25% market share.
And now, the company looks to open up 100 exclusive stores across India. This offline expansion will help Xiaomi to introduce new products and launch its non-smartphone portfolio.
The company currently has 26 exclusive stores in India, with a few hundred more stores through franchise partners.
Xiaomi to release more products under its non-smartphone portfolio
Xiaomi has already “shaken up” the Indian consumer market by its budget friendly TVs and made some progress with products such as its power banks, fitness bands, smart air purifiers.
Interestingly, Xiaomi will build upon its ecosystem by releasing products like smart scooters or cycles and smart wearables like shoes and others in India.
“Our aim is to launch many more product categories in India—we already have 7-8 categories in India. If you look at our product line-up in India right now, we have phones, smart TVs, fitness bands, power banks, smart routers, smart air purifiers, and few other smaller categories like t-shirts and backpacks, and some smaller products like audio players,” said Jain.
Xiaomi, which entered India in 2014 and tripled revenues from India over the past 12 months, accounted for 25% of smartphone shipments in the December quarter, according to research firm IDC—making it the biggest smartphone vendor in India, ahead of Samsung.
The company has indicated it will back early to mid-stage start-ups in spaces such as content, fin-tech, hyperlocal services and manufacturing.
Xiaomi’s start-up investments in India are part of a broader trend of an influx of massive Chinese investors in the Indian internet economy, with Alibaba Group Holding and Tencent Holdings leading the way.
Xiaomi, which showcases a number of its products at its own stores, is currently contemplating a number of new products in India, but is yet to take a final call on whether to introduce those products in India, given the unique nature of the Indian market.
Xiaomi has already launched two new smartphones in India this year, namely the Redmi Note 5 and the Redmi Note 5 Pro. The company also launched three variants of its Mi TV in India. On March 14, the company is expected to launch the Redmi 5 smartphone in the country.