Xiaomi Plans to Invest $500 million in India During 2017 to re-gain good market share in the country. It has been announced by the Co-founder of Xiaomi Mr. Lei Jun keeping in view the deteriorated market share of the brand in India.
It is important here to note that Xiaomi, after its entry in Indian market, has witnessed a good response. But it is then slower down and for this purpose, the Chinese mobile phone manufacturer wants to get back on the track by increasing its presence in the country, where has remained successful.
Lei Jun, the Co-founder of Xiaomi said in a recent interview that:
“As Xiaomi has started doing business in the country about 2 years back and has invested $500 million in these years. Xiaomi will invest another $500 million to expand its business in India over the next 3 to five years.”
Xiaomi is the 2nd largest mobile phone brand in terms of sales in India and has successfully generated $1 billion revenues in 2016. The company aims to double this revenue during 2017 by introducing innovation market strategies
Also Watch: Xiaomi’s Official Launch Event in Pakistan
Xiaomi has recently entered Pakistani market by introducing very good smartphones both mid-range and high-end phones. It is evident that the brand is aggressively working to do business in the growing markets of the world.