Xiaomi has limited retail presence as it preferred to keep tight margins on its products in order to sell more units. The strategy has worked off very nicely for the Chinese company but now it’s looking to expand into the retail market as well. The company recently announced a plan to set up a thousand new retail stores and now it has opened its first proper retail store outside of greater China. The new store is located in Singapore.
This is the first proper Xiaomi store to be opened out of China, Hong Kong, and Taiwan. The first Mi Home store in Singapore gives customers the opportunity to try out Xiaomi devices before deciding to spend their money on them.
The new Mi Home store is located in Singapore’s Suntec City mall. It sells Xiaomi smartphones and accessories but doesn’t stock additional Mi products like the TV. The company has said that the store will offer its other products down the line.
Unlike the stores in China which it runs itself, Xiaomi has teamed up with a local partner in Singapore to run the store. The online sales will be managed by regional online retailer Lazada in the tiny island nation.
Xiaomi is likely to use the same retail strategy in other countries across the region as it seeks to further improve its hold on the market.
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