India is the second largest market after China. Its huge population has made it an attractive market in the world. That is why, international companies are being interested to invest and set up production in India. Chinese smartphone maker Xiaomi Inc is perhaps going to be the latest company to set up a manufacturing unit in India which is dominated by Samsung Electronics and local firms like Micromax.
The five-year-old Chinese company, which entered the Indian market in July last year, said on Thursday it would invest in India and their production in this country would begin within 12 to 18 months. They have become popular in India because of its low-priced but feature-rich handsets which have been sold more than one million within five months.
According to Hugo Barra, Xiaomi’s vice president of international operations, the company in order to set up a manufacturing unit is assessing different locations and is in talks with local partners and state governments.
The company is planning to open 100 stores in India this year so that consumers of the root level can experience the company’s devices, but phones will not be sold from these stores.