India Xiaomi Going All-In while Investing Another $500 Million After $500 Million
Xiaomi has become a household name in many markets throughout the world while other markets have yet to hear of them. In India, Xiaomi has been a presence for the past two years and have thought of the country so highly they have already invested $500 million in their endeavors.
As they look to make an even bigger name for themselves in the world’s third largest smartphone market in the world, Xiaomi will invest another $500 million over the next three years which will total $1 billon in their first five years in India.
In the first two years in India, Xiaomi has quickly become the 2nd largest smartphone manufacturer in sales. In that time, they have managed to bring in $1 billion in 2016 alone which they fully expect to improve upon even more in 2017.
Xiaomi is going all-in with their plans in India as they have recently opened up a 2nd manufacturing plant which will help to boost production. Demand for Xioami products have definitely exceeded supply so the new production facility will definitely improve supply.
It’ll be interesting to see if India Xiaomi is able to remain 2nd in sales with others such as Vivo and Oppo creeping up. 2016 showed huge promise for both start-ups which have seen increased sales in the worlds 3rd largest market.
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