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Xiaomi is a dominant brand and market leader in the Indian smartphone arena. Outside China, India is one of the major markets for the company. Xiaomi has launched a wide range of products including smartphones, televisions, air purifiers, power banks, etc. in the country. It has witnessed a three-fold growth in the country in the past year and appears to be in similar plans this year as well.
In an interview with Livemint, Xiaomi Global VP and India head, Manu Kumar Jain stated that the company is in plans to launch at least six smartphones in India in 2018. In addition to this, Xiaomi appears to be aiming to open 100 exclusive stores and release more new product categories in the near future. Xiaomi is said to be in plans to build big on the non-smartphone business besides the new smart TV models launched in the country.
He has revealed that Xiaomi has crossed $1 billion revenue in India and is aiming to cross the $2 billion mark very soon. But Jain has not revealed when exactly Xiaomi expects to reach this revene milestone. Though he has revealed about the number of start-up investments that the Chinese firm might make in one year, it looks like it will have nearly two dozen start-ups annually in the next five years. Back in November, Xiaomi's Lei Jun revealed to invest a minimum of $1 billion in 100 Indian start-ups in five years to create an apps ecosystem around its smartphone brand.
Jain has stated that India is a drastically changing market. He said that Xiaomi is bullish that India will become hugely digital five years from now and that the company aims to promote the same.
Given that Xiaomi recently opened its first Mi Experience Store in Chennai showing a new of products, it is clear that the company is contemplating to launch new products in India. He says that though people are interested in witnessing the launch of the smart scooters, smart water purifiers, smart weighing scales, etc. in India, it is not sure if these products will do well in the country with a unique nature.
He revealed that Xiaomi aims to bring more product categories in India. For now, they have seven to eight categories such as smartphones, smart TVs, power banks, fitness bands, smart routers, smart air purifiers, t-shirts, backpacks, and audio players.