Smartphone and electronics device maker Xiaomi India said it aims to sell more than 750 million devices in the next 10 years, more than double the sales it has made in the country in the last 10 years.
The company, which has completed 10 years in India, has no plan yet to go for an initial public offering (IPO) and launch its electric smart car, SU7, in the country anytime soon.
“For the first 10 years, which is 2014 and till now, we have sold 250 million smartphones and another 100 million Internet of Things (IoT) devices,making it to 350 million devices. So, in the next 10 years we have a target to sell 700 million devices in total,” Sudhin Mathur, Chief Operating Officer of Xiaomi India, told businessline.
One aspect that the company was bullish on was 5G devices and the penetration of 5G equipment into homes, which could boost broadband services too, apart from Xiaomi’s smartphone strategy, with global leadership in many models, he said.
About launching the electric car in India, Mathur said, “For the next three years, the entire EV focus is on China. They are developing technology from there and then may be after that once we have established market then may look at it.”
He added that till then, Xiaomi will focus on devices that cater to the large population and as per customer demand.
On asked about notebooks or laptops business, Anuj Sharma, Chief Marketing Officer, said, “We are actually focussing on that computing in a different way. It means more mobility, better battery life and a little more intuitive consumer interface. That is why we switched our entire energy to tablets with documents on the Cloud and more communications than anything else…Tablet does far better job than a laptop…so we will move our focus on where the market is moving rather than just catering for limited numbers.”
Also, over the last few years, the laptop market has been a little bit bland, and not much innovation is happening, he said, adding that Xiaomi is providing a tablet with much better battery backup and accessories like a keypad, a pen, and a SIM slot, which makes much more sense at an entry-level price of a laptop.
According to IDC, Xiaomi’s ranking in the Indian smartphone market has slipped to fifth from second in the September quarter after Samsung, Vivo, Oppo, and Realme. The company’s market share decreased to 11.4 per cent from 11.7 per cent in the same quarter last year.
Vivo’s market share increased to 15.8 per cent in the third quarter (Q3) from 13.9 per cent, and Oppo’s increased to 13.9 per cent in Q3 this year, compared with 9.9 per cent in the same quarter last year.
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