Xiaomi is one of the successful Chinese brands in India. The company that entered India in 2014 has generated over $1 billion in terms of revenue from here.
Xiaomi's founder Lei Jun announced that the country is one of the important markets for them and that they aim to create 20,000 jobs in three years. At the Economic Times Global Business Summit 2017, he added that the company has managed to achieve a great success in a short span of time. On the sidelines of the event, he also added that the company is planning to increase its offline presence by 500% in India.
Notably, Xiaomi entered the country in July 2014 and in two years it generated $1 billion revenue over here. After entering India, the company opened a manufacturing plant in March 2015. In one year, over 75% of its phones were made in India. However, he announced that over 95% of the Xiaomi phones sold in the country are made in India.
Following the success, Xiaomi announced that they are partnering with Foxconn to set up the second manufacturing unit in Andhra Pradesh, India. Eventually, the plant will help in creating employment for over 5,000 people in the surrounding villages. Over 90% of the workforce employed in these plans are women. Undoubtedly, the company is contributing towards employment opportunities in the country with its own manufacturing plants.
As of now, Xiaomi slipped to the fourth position in China as the demand for smartphones dropped by 22% on an annual basis. Eventually, it dropped to the seventh position in the global rating and witnessed 16% drop in the sales.