Chinese smartphone maker Xiaomi Inc plans to launch production in India within 12 to 18 months, aiming to take on Samsung Electronics and local firms like Micromax in one of the world’s fastest-growing markets.
“We want to invest deeply in this market, we want to have a significant amount of research and development done here — not only for India but the rest of the world,” Reuters quoted Hugo Barra, Xiaomi’s vice president of international operations, as saying Thursday.
Xiaomi, which entered the Indian market in July last year, is evaluating various locations to set up a manufacturing unit and is in talks with local partners and state governments, Barra said.
“The fundamental point is we want to build deeply rooted Indian products because this is a hugely important market for us and there is nothing more powerful than being a local business,” Barra said, adding that India could also serve as an export hub.
“We are looking at (serving) the domestic market to start with but as we expand into other markets, particularly other markets in south Asia, it could make sense to export,” he said.
– Contact us at [email protected]