Xiaomi may have got its start from China but the company has since expanded to neighboring markets and India has proven to be another important market after China. The company continues to see rapid growth in the country. Xiaomi boasted via a tweet earlier today that it sold more than two million smartphones in India by the end of Q3, 2016. It says that this represents a growth of more than 150 percent year-over-year from Q3 2015 to Q3 2016.
This is certainly a record for Xiaomi in one of the most lucrative mobile markets on the planet. Xiaomi has made good use of its slim margin strategy by offering smartphones with respectable specifications at very competitive prices.
The strategy has enabled Xiaomi to take on established market leaders in India such as Samsung as well as the homegrown crop of OEMs like Micromax. It has worked hard with distributors across the country to get its devices in as many stores as possible. Xiaomi has also partnered with some of the biggest online retailers in India.
Despite showcasing significant growth in the country, latest market data suggests that Xiaomi sits at number four in India with a market share of 7.5 percent. However, when online sales are taken into account, it sits in second place only behind Lenovo.
There have been concerns recently about Xiaomi’s falling handset sales but that’s not something that the company is too worried about. It’s selling smartphones at very slim margins as it wants to establish recurring sources of revenue instead of short-term revenue generation based on smartphone sale margins.
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