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Chinese smartphone maker Xiaomi has indicated its interest in manufacturing Smart TVs, routers and other products locally in India. But this move will require enough amount of demand for its product in the Indian market.
Manu Jain, Xiaomi's India head and international VP told Economic times, that "the company's focus is to launch more product categories in the country. He added that the company is expecting to make investments in more startups this year."
The company is gradually moving into the product categories in the Indian market. Last month Xiaomi has launched its smart LED TV range in the country. Now the company is looking forward to expanding its smartphone business by launching six new smartphones by the end of this year.
Yesterday we have reported that Apple has started the trial production of iPhone 6S in Bangalore. Now, Xiaomi is also showing interest in Make in India campaign and interested to invest in the Indian industrial sector.
Xiaomi also has plans to increase the investments over the next few years as part of its strategy of investing $1 billion in Indian ventures. The company is not only planning to launch six new smartphones but also aims to expand its offline presence in the country.
Xiaomi is targetting to build 100 exclusive stores to introduce new products categories, which will promote its non-smartphone business. Under Jain's leadership, Xiaomi has crossed $1 billion in revenue in India. The company is now aiming to achieve the $2 billion mark soon.
"Our journey in India has just started. We can achieve a lot more on every front," Jain is quoted as saying in the report. "We have smart scooters, we have smart cycles, smart water purifiers, weighing scales, smart cookers, smart shoes, etc. - people keep talking about these products and asking when we will launch them in India. We don't know at the moment whether those products will do well in India, firstly, and secondly, even if we were to launch them for India, how would we customize them for Indian conditions?" Jain added.
The plans seem to be very interesting, let's see how Xiaomi will execute all these and achieve their goals by the ends of this year. As there are other competitors who already earned a good market value in terms of non-smartphone products.