NEW DELHI: Chinese smartphone maker Xiaomi plans to set up two manufacturing plants in India and launch more devices this year as it ramps up its presence in the world's fastest growing market amid a cooling in its home market.
Bin Lin, billionaire co-founder and president at Xiaomi, told ET that he will be spending a lot more time in India, underlining the South Asian nation's importance amid challenges in its biggest market, China.
The India plan includes manufacturing of handset peripherals and components, he said.
"We believe it (China) will be a flat market, if not, even decline," said 48-year-old Lin, worth nearly $1.1 billion (Rs 7,480 crore) as per the Forbes list of billionaires.
Conversely, Lin expects India, already the world's fastest growing smartphone market, to further gain steam, selling around 140 million devices in 2016, compared with about a 100 million last year.
love to see other product from xiaomi also manufactured in india especially mi tv.
Xiaomi's products are really good and world class at cheap price, no one can have just one, anyone who has bought xiaomi's phone or other device will never leave their brand....
and their laptops, hope it all happens in India
Make in India gaining steam.
Made in India = Assembled in India. Parts and major components still have to be imported China
tvkOn V K
Xioami found its market in India. They did quality devices at reasonable and affordable cost by giving tough competition to branded device makers segment which attracted good customer base. Aligning with Make-In-India their success will get up in the ladder.
very good phone
The Common Man
Great.. Make in India becoming a success.. and sickulrs, award wapsi, jnu gang busy in break India..sad..
let them have good service centers first
The companies have already identified India as a favorite investment destination .. The downfall of China has helped India in this regard
chinese company are helping to bosst indian economy whereas like indian mallya are leaving country with huge money