China based smartphone maker Xiaomi, in a bid to strengthen its foothold in India, is planning to setup two manufacturing plants in the country this year, reports Economic Times. The company also plans to release more devices in the country this year.
Xiaomi has also applied for a single-brand retail license in the country as well. The application for the license is currently being processed by the Department of Industrial Policy and Promotion (DIPP). Currently, the company sells its products via e-commerce portals, and will be looking forward to increase its presence by establishing retail stores.
Xiaomi at the Redmi Note 3 launch event confirmed that the Mi 5 will launch in India in April, besides this, two more devices are planned to be released by the end of this year, one in next quarter (April, May, June) and the another in second half (between July and December). The brand also plans to enter new product categories this year. It has already launched the Mi Bluetooth Speaker, which goes on sale by the end of this month.
Xiaomi made its India debut in July 2014 with the Mi 3, and ever since have been doing good business in the country. The company even started local manufacturing of its products in the country in 2015, in partnership with Foxconn, which now makes 75 percent of Xiaomi's devices at its Sri City manufacturing plant in Andhra Pradesh. The brand reportedly sells over one million smartphone in the country per-quarter.
Xiaomi last year estimated to sell around 80-100 million smartphones globally but fell 10 million short as the company sold around 70 million units. However the company expects to sell 140 million smartphones in 2016.
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