Xiaomi’s India revenues top $1bn, plans new units

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Xiaomi India can currently produce 5 million devices on a quarterly basis, and is now looking at “much higher numbers” as business expands rapidly. Comapnies India operation has crossed $1 billion in revenue. The company is now planning to open new factories beyond the two it has in Andhra Pradesh, Manu Jain, MD of Xiaomi’s local operation, said.

“India is one of our most critical markets and business here has been growing very strongly. Sales have grown by 4X (January-June 2017), and we are over-achieving our targets,” Jain told TOI as the company launched a new device, MiA1, in partnership with Google (priced at Rs 14,999).

“Our revenue crossed the billion-dollar mark in 2016, and we expect to go over two billion dollars this year on the back of strong sales,” the Xiaomi India head said.

The company -which has invested over $500 mil lion in India along with retail, distribution and other partners -sold 3.8 million devices in the first quarter (January-March) of this year, and followed it up with 4.8 million units in the second quarter (April-June). “To match the demand, we are now having a quarterly production run of 5 million units. This needs to go up. We are now exploring plans to set up new factories.” he said.