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Peter Holden
Guest
February was a big month for Xiaomi as it launched its latest flagship handset, the Mi 5, at Mobile World Congress in Barcelona last month, and it seems the company has big plans for 2016. The Chinese smartphone manufacturer has announced it will build another two manufacturing plants in India later this year as it attempts to maintain momentum. Xiaomi expects to sell around 140 million handsets in 2016, as opposed to the 100 million sold last year.
In a bid to ease the pressure caused by China’s slowing economy, which Xiaomi’s co-founder and president, Bin Lin, says will flatline and possibly even show a decline in 2016, the handset maker will focus its attentions on India, the world’s fastest growing market.
Xiaomi teamed up with Foxconn last year, producing the Redmi 2 Prime under the ‘Make in India’ initiative from its Sri City facility in Andhra Pradesh, and further discussions are being held in regards to the new manufacturing factories opening up in 2016. Xiaomi has also applied for a single-brand retail licence in India from the Department of Industrial Policy and Promotion (DPP).
Xiaomi plans on launching its Mi 5 handset in India during April, although initial stock will be sourced from outside of India, with pricing expected to vary between Rs. 20,000 – Rs. 27,000 ($297-$402). A second, unannounced handset is scheduled for launch during the second half of 2016 in the country.
Source: IndiaTimes
Via: FoneArena
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