India is currently one of the biggest potential markets when it comes to the smartphone industry. In their efforts to tap this market, Apple and Chinese smartphone manufacturer Xiaomi race to establish their brand in order to gain momentum against their possible rivals.
Xiaomi announced that it is working with Taiwanese electronics company Foxconn as part of the company's expansion in the Indian market. Foxconn will help Xiaomi in assembling smartphone units that will find its way in India's market.
Currently, the Xiaomi Redmi 2 Prime is aimed to be released in India as successor to the Redmi 2 device. The Redmi 2 Prime will be assembled in Foxconn's plant in Andhra Pradesh located in the southern part of India.
Xiaomi Global vice president and former Google Android executive Hugo Barra told Wired, "Manufacturing smartphone's locally is a significant step towards incorporating Xiaomi into the fabric of India in the years to come."
China remains as Xiaomi's biggest market. However, the recent decline in smartphone demands has forced the tech giant to look for potential markets to sell its products. As part of its global expansion, Xiaomi has entered the Brazilian market by releasing its flagship device in the region for only $160.
Since the company's entry into the smartphone industry in 2010, Xiaomi has grown from a start-up to become a $45 billion company and has also taken a fair share of Samsung and Apple's market share, according to Forbes.
Xiaomi skyrocketed its brand to global fame by releasing high-end devices at a much affordable market price compared to some of its more expensive counterparts.