Chinese mobile handset maker Xiaomi will increase the number of its Mi stores in India. Stores account for about 15% of Indian business, the company said on Monday. The company entered India in 2014. Previously the company only sold online. Launched its retail Mi store in 2017. Xiaomi is a popular brand in budget phones.
There are also stores in Kashmir and Andaman-Nicobar
In addition to the Mi Store, the company also operates more than 75 Mi Homes, more than 45 Mi Studios and more than 8000 Mi Preferred Partners store chains under the franchise. Manukumar Jain, MD, Xiaomi India, said the Mi store is currently in smaller cities across the country. There are also stores in Kashmir and Andaman-Nicobar. Many of these stores are available to the general public.
3 thousandth store opened in Uttar Pradesh
Manu Kumar said the company has opened its 3,000th Mi store in Bulandshahr, Uttar Pradesh. All of the company’s stores are at an advantage. In the Indian market, 50% of revenue comes from retail outlets. 30% of its stores come from Mi stores. The company has come up with a number of 500 to 3000 stores. Increasing demand will increase production by 100% during the season.
The stock rose from 5% to 15%
According to the Registered Company List, total revenue increased by 54% to Rs 35,426.92 crore in 2018-19 from Rs 23,0621.11 crore in 2017-18. The Mi Store network alone employs over 6000 people in the country.
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All of Xiaomi’s smartphones are made in India
In an interview, Jain said that all of Xiaomi’s smartphones and other products are made in India. About 65% of the accessories required for the product are made in India. We are a more Indian company compared to other companies. The company hopes that tensions between India and China will not affect the company’s business. According to Manu, consumers are not impressed by the Chinese company’s opposition to social media.