Xiaomi to open 100 retail stores in India.
Xiaomi is increasing its office retail presence in China as bids to gain ground stolen by rivals in its homeland, and now it is making that very same push in its second largest market, India. The Chinese company, which is valued at $45 billion, suffered a tough time last year as sales growth slowed — Xiaomi, notably, didn’t go public with sales figures for 2016 — but India has been a bright spot. It passed $1 billion in revenue for the first time in the country last year, and it ended 2016 as India’s second highest selling smartphone maker behind only Samsung, according to analyst firm Canalys. Now it is doubling down on the country by introducing its ‘Mi Home’ stores, starting with a debut space in Bengaluru which will open in just over a week. The plan is to expand the initiative to reach 100 stores over the next two years, Xiaomi’s India head Manu Jain said in a tweet.