Xiaomi To Make Fresh Investments, Set Up More Plants In India
Smartphone brand Xiaomi India plans to add onto its number of plants and expand capacity to manufacture phones and other lines of product reports PTI.
Xiaomi currently has three manufacturing plants, of which two are in Sri City in Andhra Pradesh and one for power banks in Noida, said the company’s Vice-president Manu Jain.
“We are definitely exploring. We want to add more capacity. We want to set up more plants, not just for phones, even for other categories like Mi-band. There are many other categories…,” he said.
Xioami started its journey in India in July 2014.The country is the company’s largest market outside mainland China. Given its affordable range of phones, it has done all in the competition.
The company has invested over Rs. 3,000 crores in India, from July 2014 to the beginning of this year, said Jain.
Xiaomi is making new investments as more factories, service centres, R&D centre are springing up, he said. The investment figures would surface by this year-end.
Xiaomi has emerged as one of the top players in this extremely competitive Indian smartphone market. Recently, a Counterpoint report said that Xiaomi is almost rubbing shoulders with Samsung, being only 0.5 percent behind the Korean giant which is ruling the market since March 2012.
“Xiaomi had a 22.3% share in the quarter ended September, while Samsung had a 22.8% share by volumes,” Tarun Pathak, associate director at the Hong Kong-based research firm said.
However, as per IDC’s latest Quarterly Smartphone Tracker, Q3 2017, Xiaomi is the number one smartphone in India.
With a market share of 23.5 percent and having shipped 9.2 million smartphones in the quarter, Xiaomi has become the fastest growing smartphone in India, the company said
Jain meanwhile dispelled fears over the security of the Xiaomi phones.
“We don’t collect any user data. Not at all. We provide some internet services…which means the user has to say, yes I want to use them. Even when the consumer opting these services, the data is sent to servers, they are fully encrypted. There is no security risk”.
The popular smartphone brand recently launched Redmi 5A in Hyderabad.
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