Xiaomi penning e-commerce strategy for India

MUMBAI, INDIA: Xiaomi, the world’s third-largest smart phone maker, is penning an e-commerce strategy for India.

For this, the company will develop a local ecosystem by investing in technology start-ups, said Manu Kumar Jain, India Head, Xiaomi.

Xiaomi will invest in expanding research and development center in Bengaluru, set-up a manufacturing facility, warehousing and logistics, and also expand its sales and services network.

Currently, majority of Xiaomi’s sales come through e-tailers such as Flipkart, Amazon and Snapdeal, beside its own portal– me.com.

Jain said Xiaomi was also aggressively taking a gander at parking investments in Indian start-ups, especially in the areas of Internet technology and connected devices.

It must be noted that Xiaomi’s founder Lei Jun had in February this year secured $160 million for his China-focused venture capital store Shunwei China Internet Fund to invest in Chinese start-ups. Founded in 2011, the Shunwei China Internet Fund currently has over $900-million assets under management.