The intact growth potential for Smartphone sales in the Indian Smartphone market has had a noteworthy influence on the Western Smartphone makers and the Chinese brands. Looking at the country’s Smartphone market as a major ground, the Smartphone makers, particularly the Chinese leading Smartphone companies have put significant marketing strategies to capture substantial shares. Currently, the second largest Smartphone manufacturer Xiaomi is targeting a 50 percent increase in its offline sales this year. The company’s CEO, Lei Jun, in an interview with Economic Times said that his company is aiming to fix supply demand (as Xiaomi Smartphone’s primarily retail in the online e-retail stores) to fulfil the high local demand.
Xiaomi had entered the Indian Smartphone market in 2014 and last year the company crossed $1 billion milestones in revenue in the country. To ensure its success, the Chinese conglomerate recently started its second manufacturing unit in partnership with Taiwanese electronics major Foxconn in Andhra Pradesh. Lei on the context said that more than 95 percent of Xiaomi smartphones that are sold in the India are manufactured in India. However, with the second plant the company is falling short on supply, he added.
Xiaomi is planning to create 20,000 jobs in India
In a separate report, Xiaomi is said to be aimed at providing 20,000 jobs in India in the next three years. According to the report from IANS, Xiaomi’s founder said that India was one of the important markets for the company and it aims to create 20,000 jobs in the country. “the Internet plus action plan is a new form of economic plan where the internet is integrated with traditional industries encouraging to the spirit of excellence in these industries and drive economic growth,” ANI quoted him as saying in the report.
The ET report added that the plant has also helped create employment for more than 5,000 people from over 100 surrounding villages. More than 90 percent of the workforce employed is women.
If everything goes as plan, Xiaomi may even clock revenue of $1 billion this year. As Lei told Business Line on the company’s growth plans,”We will surpass Our India team has promised us 100 per cent growth every year. The possibility of crossing $1 billion is 99%.”
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