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.
