China’s Xiaomi Expands into India
Patricia Villaceran | | Jul 21, 2014 09:47 PM EDT |
(Photo : REUTERS/Jason Lee )
Beijing-based consumer electronics company Xiaomi, Inc's. rapid four-year growth has led it to target the potentially rich smartphone markets in India.
Xiaomi outdid sales of Apple, Inc. in China when it offered competitive and inexpensive smartphones and tablets.
The emerging company has used social media to gain market share in other Asian markets. Now, it is teaming up with Flipkart.com to sell its newest device, the Mi3.
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The Mi3 will be sold for US$232 (INR13,999). Xiaomi's partnership with an Indian e-commerce website breaks with Xiaomi's old strategy of offering its products exclusively on its own website.
The push into India is reported to be a part of CEO Lei Jun's overall plan to hit 100 million in sales next year. This projected figure will challenge big players like Apple and Samsung Electronics Co.
Xiaomi will compete with Samsung and other Indian companies that account for about 60 percent of smartphone sales in India.
It will also start selling its smartphones in 10 different regions, including Russia and Brazil. Though Xiaomi has already established its websites in Taiwan and Singapore, India is a much more challenging market because the delivery and online payment system in the nation are still unstable.
Katyayan Gupta, tech analyst at Forrester Research Inc., said Xiaomi still has to do a lot of research because India does not know its brand. If the company wants to build a strong impact, Gupta advised it to "tie up with a trusted brand in India."
Xiaomi is also partnering with multiple e-commerce companies in the Philippines and Indonesia.
Xiaomi is already the sixth top maker of smartphones internationally. They sold more than 10 million smartphones in the first quarter of 2014.
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