Xiaomi is setting ambitious targets for the next decade in India, aiming to double its device shipments to 700 million units. The announcement comes at a time when the company is celebrating its 10 years of successful operations in the Indian market. At a roundtable media conference, Xiaomi India President Muralikrishnan B revealed that the company has shipped over 350 million devices across various categories in the past decade. Out of this, he informed that 250 million units are smartphones. This success, he attributed to the focus on offering high-quality products at competitive prices as well as innovative marketing.

“We have seen the best and worst of everything,” said Muralikrishnan B, President, Xiaomi India. “This decade is going to be marked not just by pride but also by immense gratitude.”

In the March 2024 quarter, Counterpoint Research estimated Xiaomi’s market share in India to be 18.8 percent, making it second in the research firm’s top five list. IDC has also shared similar numbers, which show that Xiaomi is currently one of the top 5 smartphone brands in the country.

Looking to the future, Xiaomi has outlined a vision for “deeper integration” in the Indian market. The company plans to significantly increase investments in research and development (R&D) to offer better products. It also aims to deepen partnerships with local Indian manufacturers and increase local sourcing of components for its “Make in India” initiative.

Currently, about 35 percent of the non-semiconductor bill of materials (BOM) for their smartphones is locally sourced. Murali says the company aims to increase this to 55 percent in the next two years. In addition, the company plans to increase the value-added share in their smartphones from 18 percent to 22 percent. This increase indicates that they aim to incorporate more components or technologies produced locally rather than relying on imports or external sources.

“We have smartphones, we have smart TVs, we have audio products that are made in India. We are also exploring opportunities to localise various other AI IoT products. We are also committed to broadening and deepening capability localisation in India,” he said. He added that there is a huge future for Xiaomi in India, with a focus on “designing for India, manufacturing in India and creating impact with and for Indians”.

At the same time, the company also intends to expand its manufacturing capabilities and strengthen its partnerships with distribution channels. This approach aims to increase control over production processes, reduce costs and improve overall product quality.

He also confirmed that Xiaomi’s foldable phones will not come to India anytime soon as the company has no plans for it at the moment. Xiaomi wants to focus on premium traditional phones with Leica-powered cameras. While Xiaomi is selling great foldable phones in China, the Indian market may have to wait for some time to experience its Mix Fold series devices.

The brand is also looking for better ways to incorporate AI in its phones. Talking about how AI can make smartphones more useful, Murali explained that devices can charge based on the user’s sleeping pattern and smartly manage cellular connectivity to save power while driving. He did not share details about what new AI features can come to Xiaomi phones and when they will arrive.