Xiaomi Eyes $2 Billion Revenue From India for the Year 2017-18

Xiaomi the Chinese handset maker company is expected revenues exceeding $2 billion from the operations in India. Xiaomi launched few smartphone handsets like Redmi Note 4, Redmi 4A and Redmi 4. The company had made huge revenues by the sale of these handsets. Xiaomi is expecting record revenues by the end of this year. Xiaomi head is confident about it growth through strong sales of its smartphones and expansion of the brand in India.

Xiaomi is currently competing with Samsung, Oppo, Lenovo and Vivo. Xiaomi has launched new smartphone handset ‘Mi-Max-2’ with a price tag of Rs. 16,999. The handset will be available for sale in India from July 27, 2017.

Xiaomi India $2 Billion Revenue 

Xiaomi is expecting more than Rs 12,867 crore sales this year; which is double the amount of revenue in 2016. Manu Jain Xiaomi head is confident about it growth through strong sales of its smartphones and expansion of the brand in India. The company has seen 328% growth in H1 as compared to same period of last year.  Xiaomi made this possible by strong sales of smartphones like Redmi Note 4, Redmi 4A and Redmi 4. Thus, Company can expect double the sales held in last year. According to the research firm, it is clear that during January-March 2017 quarter; Xiaomi had a market share of 14.2%. The company had achieved revenues of $1 Billion last year and this company is expecting much more.

To expand its market share in the country, the company is focusing on increasing retail presence and after sales service. Xiaomi had 225 service centres in the beginning of the year, which has grown to 500 service centres. The company launched its first Mi store in Bengaluru in May. But now company need to expand its retail presence to increase its market share. Xiaomi has planned to open up 100 Mi Stores in the country. Xiaomi is investing in Mi home stores to allow customers have a hand on experience before purchasing a smartphone.

Xiaomi-Mi Max 2

Xiaomi has also launched new handset on Tuesday-Mi Max  2 with a price tag of  Rs16,999. The company has sold around 3 million units of Mi Max first generation and is expecting huge sales of newly launched Mi Max 2. The company is competing with other smartphones of Samsung, Lenovo, Vivo and Oppo in India. Xiaomi head is expecting to increase its market share by the year end.

Buyers have been preferring more than 5.5-inch display, the market of large screen smartphones have grown from 15% to 35% in 3 years. Consumers are in need of large display smartphones. Mi Max 2 smartphone has a 6.44-inch display with Qualcomm Snapdragon 625 processor. Xiaomi smartphone has 5300 mAh battery and will have a 12-megapixel rear camera and 5-megapixel front camera. Mi handset will come with 4 Gb 4GB RAM, 64GB internal storage (expandable up to 128GB), 12MP rear and 5MP front cameras and 5,300 mAh battery. Xiaomi handset will have 4 GB Ram with 64 GB internal memory and expandable up to 128 GB.

Xiaomi new launch of smartphone-Mi Max 2 will be available for sale from July 27 across all online and offline platforms in India. The Mi Max 2 smartphone is also available for sale on July 20 and July 21 on Mi.com and Mi home; to mark the special occasion of company’s three-year anniversary celebration.

Source: Economic Times

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Vanshika Bansal

Vanshika is the so-called Chandigarh girl pursuing BBA at University of the Fraser Valley in Canada. She is dedicated, passionate about work and believes in 3 major things - hard work, herself and her dreams. You can write to her at hello@chandigarhmetro.com