Chinese smartphone maker Xiaomi has announced it will increase its Indian stores tenfold by the end of next year

Stock Market News Today

Stock Market News Today

Xiaomi Corp announced in a press release Tuesday that it would increase its presence in India from 500 retail stores to 5,000 by 2020 .

“It’s been over a year since we started offering our products through offline retail and we have seen strong growth there,” Manu Jain, Xiaomi vice president and managing director for India, said in the release.

“Offline retail is a huge segment in our country with nearly 40 percent of the offline market focused in rural regions, and all of this should increase our offline sales and account for 50 percent of the company’s revenue by the end of next year.”

In a Twitter post, the smartphone maker invited people to apply to run one of the franchised stores, which will be based on its Mi retail model.

“Mi store is the ‘new retail’ model for rural India that gives…

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Autore: alessandria today

Ex Dirigente, consulente e ora blogger


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