Xiaomi aims to leave no stone unturned when it comes to capturing the Indian market. The Chinese phone maker, which stands with Samsung as the largest phone seller in India, now eyes to outstrip the Korean company through offline sales.
Last year, Xiaomi accounted for 24 per cent of India’s smartphone market in the third quarter, according to the International Data Corporation (IDC). Samsung is another largest phone seller in India and also controls 24 per cent of the market in the country.
Manu Kumar Jain, managing director of Xiaomi India, told Reuters that in 2017 and 2018 combines, the biggest strategy change the company has observed is the focus on offline sales.
The company opened its first Mi Home, sales and experience centre, in May last year and already operates 17 such outlets in India.
Jain added that the company aims to open 100 Mi Home stores by mid-2019 in India and also plans to add more preferred partner stores—multi-brand outlets that stock largely Xiaomi products.
In November last year, according to media reports, Xiaomi and Bengaluru-based retailer Sangeetha Mobiles were looking to acquire the stores of Essar Group’s cellphone retail venture The Mobile Store.
The Chinese phone maker would use a local partner to acquire the business and convert the stores into its exclusive ‘Mi Home’ outlets and might eventually take up stake if its application for single-brand retail foreign direct investment (FDI) is approved.
To boost its offline sales during festivals, in October last year, it also partnered with Big Bazaar, a supermarket chain from Future Group with over 240 stores in India to sell Redmi Note 4 and Redmi 4.
Last year, Xiaomi registered a total revenue of $1 billion, and it is going to redefine the Indian market with a steep revenue of $2 billion it plans to generate this year.
The company is planning to replicate its China model in India, as it aims to emerge as an internet company by monetising services such as finance and entertainment. Besides, it is also planning to sell the EVs, apparels, lifestyle products, and toys in India.