Xiaomi is currently the 3rd largest Smartphone manufacturer in the world, behind only Apple and Lenovo. Not bad considering the company was founded only 5 years ago by serial entrepreneur and Billionaire Lei Jun and that the phone still has not reached American shores.
Xaoimi was founded in 2010 by Lei Jun who is considered widely to be China’s answer to Steve Jobs. The Chinese Smartphone giant has its own dedicated e-commerce stores through which its mobile handsets are exclusively available. In India, Xiaomi doesn’t have its own dedicated e-commerce store instead it has tied up with Indian e-tail giant Flipkart.Flipkart is the official distribution partner for Xiaomi mobile phones and its range of accessories.
Xiaomi has entered India at a time where the demand for Chinese products is at an all-time high. The prejudice that existed against Chinese products is fast fading away. The China-based tech giant is satisfying Indian customers by providing unparalleled hardware for a reasonable price point. Xiaomi currently sells three models in the Indian sub-continent.
1. Xiaomi Mi3
2. Xiaomi Redmi 1s
3. Xiaomi Redmi Note
From a technological standpoint, these phones are the clear favorites in their price range. The Xiaomi Mi3 which is the current flagship device offered in India has superior specifications as compared to the Lg Nexus 5, which is almost double the price. This has created a massive demand for these Smartphones.
This has created a massive demand for Xiaomi Manufactured Smartphones in India. To cope with this demand Xiaomi has adopted a unique delivery model in India. The company sells its Smartphones in a weekly flash sale held on Flipkart. Potential customers have to register in advance with Flipkart in order to be eligible for the phone. The products are then sold on a first come first serve basis. If the stock runs out, the customer has to re-register for the next sale.
Hugo Barra, the global Vice president of Xiaomi in an interview with Forbes talked about Xiaomi’s Global plans and the importance of India in those plans.
The Manufacturer currently has 3 devices available in India and Plans on launching the Mi4 from its flagship series. These devices are all priced keeping Xiaomi’s Low cost – High volume philosophy in mind. Xiaomi along with its Smartphones also has plans to launch its extended range of products including Smart TV’s and Smart watches.
The company which recently set-up its R&D lab in India termed simply as Mi India is now looking to strengthen its presence. Xiaomi is looking to set up dedicated retail stores in India. In both brick and mortar and E-tail capacity. The company has taken this step to realise the full potential the Indian market holds. Hugo Barra has suggested that along with the platform code which is currently written in India, Xiaomi is looking at setting up manufacturing plants here as well.
Xiaomi is reportedly raising new funds which will bump its current 10 Billion dollar valuation up to 50 Billion dollars. This funding is in the wake of the massive volumes of smartphones that the company has sold already and the orders it has booked. India is a massive contributor to those numbers. Making Indian the Indian market crucial in Xiaomis Global plans.
Infographics credit: http://en.miui.com
Infographics credit: http://technode.com