China’s Xiaomi will inaugurate three new factories in India as its smartphones sell more than those of any other company in India. These plants are in partnership with Taiwan’s electronics firm Foxconn. Additionally, Xiaomi and Foxconn will work together on a new plant in the southern state of Tamil Nadu to make circuit boards for its devices.
Xiaomi accounts for more than 25% of the market according to industry estimates, and its sales in India grew an incredible 259% in 2017. 95% of the phones that it sells in India are manufactured in the country, and this strategy has helped it avoid import tariffs and get ahead of the competition.
“In 2015 we extended our long-term commitment to the Indian market by joining the ‘Make in India’ program. Today we are deepening this commitment,” Xiaomi’s India head Manu Jain said. “I believe we will continue to play a key role in transforming India into a global manufacturing hub,” he added.
