- Its share increased to five to 15 percent of the company’s total business
- The company launched its retail stores Mi Store in 2017.
Chinese company Xiaomi, which manufactures mobile handsets, will continue to grow its Mi Store in India. The company said on Monday that it contributes about 15 percent to its Indian business. Shami entered the Indian market in 2014. Earlier the company used to sell only online phones. Later in 2017 the company launched its special retail shops Mi Store. Explain that due to being a budget phone, it is a very popular brand among Indians.
There are also stores in Kashmir and Andaman and Nicobar
Apart from the Mi Store, the company also runs 75 more Mi Homes, over 45 MI Studios and over 8,000 MI Preferred Partners store chains under the franchise. Manu Jain, managing director of Shami’s Indian business, has said that MI stores currently exist in the smallest cities of the country. The company also has stores in Kashmir and Andaman and Nicobar. Many of these stores have been opened by the common people who had no experience in the retail sector or the smartphone market. These were people who wanted to become entrepreneurs and business owners.
3,000th MI Store opens in U.P.
He said that the company has opened its 3,000th MI store in Bulandshahr, Uttar Pradesh. Almost all of the company’s stores are in profit. Jain said that at present half of the company’s Indian business comes from retail shops. Also 30 percent of this comes from the Mi Store alone. They say that this store is our fastest growing retail business and we have come from 500 to 3,000 stores. Manu Jain said that in view of the increase in demand, we will increase production by 100 percent by the festive season.
Share increased from five to 15 percent
Its share in the company’s total business has increased from five to 15 percent. Xiaomi does not release its earnings figures according to the country and abroad. But according to the Registered Company List, its total income grew by 54 percent to Rs 35,426.92 crore in 2018-19 from Rs 23,0621.11 crore in 2017-18. The network of MI stores alone has given more than 6,000 jobs in the country.
All of Xiaomi’s smartphones are made in India
In a recent interview, Manu Jain had said that all of Xiaomi’s smartphones and most of its other products have been made in India. Apart from this, about 65 percent of the accessories required for these products remain from India. We are a lot more Indian company than any other company. Manu Jain hoped that tensions between India and China would not affect the company’s Indian business. In his words, if the Chinese protest is only on social media, then the consumer will not be affected by it.