Xiaomi plans to setup two new manufacturing plants; to launch more devices in India
The Chinese manufacturer, Xiaomi is planning to setup two new manufacturing plants in India, according to a report in Economic Times. It is also said that apart from the Redmi Note 3 and Mi 5, it will also launch various devices this year.
Xiaomi entered India in July 2014, and started local manufacturing just over a year later. It has partnered with the world’s largest contract manufacturer, Foxconn, which now makes 75% of Xiaomi’s phones at its Sri City plant in Andhra Pradesh. The company’s President Bin Lin has said that Xiaomi and Foxconn are in talks to open two more factories and Foxconn is in talks with some state governments, on which Xiaomi India head Manu Kumar Jain added that, “at least one of them up and running within this year”.
“There were 150 brands in China, now only 30 are left where six of us control 60% of the market. In India, there are 170 brands and its going up… it will drop to 30 here too because it’s not sustainable,” He further added “The carrier share in the US is about 30-40%… for us to enter at least half the market should be open.”– said, Bin Lin, co-founder and president, Xiaomi.