Smartphone and electronics device maker Xiaomi India said it aims to sell more than 700 million devices in the next 10 years, more than double the sales it has made in the last 10 years.
The company, which has completed 10 years in India has no plan to go for an initial public offering (IPO) or launch its electric smart car SU7, in the country anytime soon.
“For the first 10 years, we sold 250 million smartphones and another 100 million internet of things (IoT) devices, making it to 350 million devices. So, in the next 10 years, we have a target to sell 700 million devices in total,” Sudhin Mathur, Chief Operating Officer, told businessline.
5G & E-Car
One aspect that the company was bullish on was 5G devices and the penetration of 5G equipment into homes, which could boost broadband services too, , with global leadership in many models, he said.
About launching the electric car in India, Mathur said, “For the next three years, the entire EV focus is on China. They are developing technology from there and may be after that once we have established market then may look at it.”
He added that till then, Xiaomi will focus on devices that cater to the large population and as per customer demand.
About notebooks or laptops business, Anuj Sharma, Chief Marketing Officer, said, “We are actually focussing on that computing in a different way. It means more mobility, better battery life and a little more intuitive consumer interface. That is why we switched our entire energy to tablets with documents on the Cloud and more communications than anything else...Tablet does far better job than a laptop...so we will move our focus on where the market is moving rather than just catering for limited numbers.”
Moreover, ,over the last few years, the laptop market has been a bit bland, and not much innovation is happening, he said, adding that Xiaomi is providing a tablet with much better battery backup and accessories like a keypad, pen and SIM slot, which makes much more sense at an entry-level price of a laptop.
According to IDC, Xiaomi’s ranking in the Indian smartphone market has slipped to fifth from second in the September quarter after Samsung, Vivo, Oppo and Realme. The company’s market share decreased to 11.4 per cent from 11.7 per cent in the same quarter last year.
Vivo’s market share increased to 15.8 per cent in the third quarter (Q3) from 13.9 per cent, while Oppo’s share increased to 13.9 per cent in Q3 this year, compared with 9.9 per cent in the same quarter last year.