- With a market share of 30%, the unicorn company Xiaomi is apparently the biggest smartphone company in India by shipments.
- Xiaomi will help in offering working capital loans to its partners via its credit offerings.
Xiaomi, the China-based smartphone and Internet of things company, has announced the roll out of an e-commerce service Mi Commerce to enable consumers to browse products online and buy products from their local retailer.
Muralikrishnan B, Chief Operating officer of Xiaomi India, was quoted saying that the Mi Commerce service would enable consumers to place orders by browsing online products and place orders.
Reportedly, the service will be launched across India and the viability of the service will depend upon its success.
Observing a market share of 30%, the unicorn company Xiaomi is apparently the biggest smartphone company in India by Shipments after Samsung Electronics Ltd, according to Counterpoint, a tech research company.
The fallout of COVID-19 has taken a toll on Xiaomi as lockdown continues across India. Inevitably, online sales have dipped following the suspension of sales of mobile phones by e-commerce giants such as Walmart’s Flipkart and Amazon. These e-commerce service companies are emphasizing deliveries of household items.
Sources cite that India, the county of 1.3 billion people, is the biggest market outside China for Xiaomi.
For starters, the nationwide lockdown in India started on March 25 is likely to continue through May 17. Meanwhile, governments have relaxed restrictions subject to the gravity of COVID-19.
Muralikrishnan was quoted saying that they were providing business continuity in the offline trade as people are still skeptic about visiting offline stores owing to concerns of hygiene, safety, and virus spreading.
According to reports, Xiaomi will help in offering working capital loans to its partners via its credit offerings.