Xiaomi Says India will likely be an immense Market In 2016

Xiaomi, the chinese smartphone maker that burst onto the scene in 2014 and captured quite a few the market in its residence united states of america because of the cheap costs and Apple-inspired designs of its handsets, has viewed its gross sales falter as of late. After its debut, a slew of latest finances handset makers entered the market in an try and imitate the corporate’s success, which slowed Xiaomi’s sales boom in 2015 significantly. however that competition hasn’t dampened the corporate’s boom plans.

speaking on the annual assembly of China’s parliament, the nationwide individuals’s Congress, where he’s a delegate, Xiaomi chairman and chief government Lei Jun printed that India is his company’s subsequent major target, stories the Wall boulevard Journal.

“Our focus has been sharpened on the Indian market,” Lei said. “we’re presently in about sixth or seventh place there, so there’s an improvement, but i hope to maneuver into the top three as quickly as that you can think of.”

Lei’s comments come at a time when different main handset makers are redoubling their efforts in the usa, including Apple. In 2015, the us of a formally handed the U.S. because the second biggest smartphone market on this planet. It had 220 million smartphones customers at the end of the 12 months.

besides the news of Xiaomi’s planned growth in India, Lei also revealed that the corporate still didn’t have plans for a right away IPO. He also declined to talk about smartphone sales after the figures he announced a year ago didn’t be reached in 2015.