While only a few years have passed since the foundation of Xiaomi, the company has already established itself as a big name in the smartphone industry.
Notably, Xiaomi has done exceptionally well in India, which is one of its main target markets. In a country where price plays a huge factor in buying decision, Xiaomi devices are naturally well received. Each year its revenues are growing at a rate of 328%. This is why the company has now two physical Mi Home stores in India. It is even thinking about opening 100 more stores in India in the next couple of years.
In India, Xiaomi's main competitor is Samsung, which still remains the leader in the market. However, according to a report by Business Korea, the scenario could change soon. As in, if Samsung doesn't come up with a strategy especially for the Indian customers, it wouldn't be long before Xiaomi takes its place.
A recent report stated that Samsung has decided to stop supplying its handsets to 200 retailers that became preferred sellers for Xiaomi smartphones in India.
Reportedly, this is the first time any brand has stopped supplies to retailers for giving preference to another brand.
On the other hand, Xiaomi has taken up some aggressive sales strategy like providing advertisement costs to offline retail stores in India. However, Samsung is offering advertisement costs to retail stores and negotiating with 200 retailers.
Currently, Samsung is the number one company in terms of shipments in India. However, Xiaomi is not far behind. So only time will tell, who will be able to create a monopoly in the Indian smartphone market.