2017 turned out to be the best year for the company in India so far, the company became No. 1 phone seller in India in last quarter of 2017. At 2nd on the leader board, the brand registered a whopping growth of 431% in terms of revenue as compared to the last fiscal year.
The brand has been as it says ‘democratising technology’ by bringing latest technology at affordable price. Xiaomi’s success so far has come entirely from the mid-price segment (between Rs10,000 and Rs20,000), loaded with more features than what rivals have in the same range.
The revenue growth came as the company shipped a record high of 2.3 crore devices in the quarter ended June 2018 globally. In India, company ships on average 40 lakh Smartphones a quarter. During the 1st half of last year, Redmi Note 4 became the highest-shipped smartphone in the country for Xiaomi. Amazon.in and Mi.com sold more than 250K units of Redmi Note 4 in its launch sale followed by 10 lakh units within 45 days of device launch last year.In August 2017, company announced that it sold 50 lakh Redmi Note 4 and set a new record beating Redmi 3S/Prime which sold over 40 lakh units.
Key highlights of the maker in India have been the expansion of its sales through brick-and-mortar stores as well. The company, which had started with an online only model of retail sales, had 25% of its sale coming from offline model by end of 2017, tapping a larger market, which has helped it make rapid growth in an intensely competitive market.
Being one of the first Chinese companies to Make in India, the company has two manufacturing facilities in collaboration with Rising Star (Foxconn’s India arm), where a phone is produced every second. Xiaomi has doubled its volume year on year and in line with the duty hike on populated PCBs, Xiaomi announced its big move towards local manufacturing by setting up its first SMT (Surface Mount Technology) facility in Tamil Nadu in April 2018.
Xiaomi’s latest mobile launch is the Mi 8 Screen Fingerprint Edition. The Smartphone was launched in September 2018. The phone comes with a 6.21-inch touchscreen display with a resolution of 1080 pixels by 2248 pixels. Xiaomi have established themselves in India well, and will remain in the leadership position in coming times as well as it only continues to reinforce its position.