Xiaomi to setup manufacturing plant in Visakhapatnam, AP
The programme will also see Xiaomi making announcements about its India expansion plans
By : DC Correspondent
Update: 2015-08-10 01:09 GMT
Hyderabad: Andhra Pradesh Chief Minister N. Chandrababu Naidu will launch the first made-in-India Xiaomi phone in India in Visakhapatnam on Monday. The programme will also see Xiaomi making announcements about its India expansion plans.
Andhra Pradesh is also set to make strides globally through its ‘Make in India, Made in Andhra Pradesh’ program by manufacturing smartphones in the state. Under the ‘Make in India, Made in AP’ programme, Xiaomi, the third largest smartphone-maker in the world, plans to set up its manufacturing plant in India. The state’s name has not been announced.
However, a hoarding of Mi in Visakhapatnam has set off speculations about Xiaomi zeroing in on Visakhapatnam for setting up its manufacturing unit in India. Though Xiaomi India CEO Manu Jain is officially coming to Visakha-patnam to launch locally made Mi handset along with the AP CM, the presence of Xiaomi vice-president (global) Hugo Barra, and DIPP secretary Ami-tabh Kant strengthened the case.
Xiaomi is the world’s most valuable technology start-up and has been valued it at $46 billion and is the third largest mobile manufacturer, preceded by Samsung and Apple.
Given that global smartphone sales are estimated to grow from 1.5 billion in 2015 to 1.7 billion by 2017 and India will become the second largest smartphone market by 2017 after China.