Chinese smartphone maker Xiaomi has announced that it will start making wireless audio products in India. The company will partner with electronics manufacturer Optiemus to set up a manufacturing plant in the northern state of Uttar Pradesh. The plant is expected to start production in the second half of 2023, and will have an initial capacity of 1 million units per year. Xiaomi plans to increase the capacity to 5 million units per year by 2025.
The move is part of Xiaomi’s strategy to localize its operations in India. The company has been facing increasing competition from local brands, and has been losing market share in recent quarters. By making its products in India, Xiaomi will be able to reduce its manufacturing costs and improve its margins. The company will also be able to better meet the demands of its Indian customers. The Indian wireless audio market is growing rapidly. The market is expected to reach $2.5 billion by 2025, from $1.5 billion in 2020. Xiaomi is targeting a significant share of this market. The company has already launched a number of wireless audio products in India, including the Mi True Wireless Earphones 2 Basic, the Mi True Wireless Earphones 2, and the Mi True Wireless Earphones 3. The new plant will allow Xiaomi to expand its product portfolio and offer a wider range of wireless audio products to Indian consumers.
There are a number of benefits to Xiaomi’s move to make wireless audio products in India. First, it will help the company to reduce its manufacturing costs. This is because the cost of manufacturing in India is lower than in China. Second, it will help Xiaomi to improve its margins. This is because the company will not have to pay import duties on the components used in its products. Third, it will help Xiaomi to better meet the demands of its Indian customers. This is because the company will be able to produce its products closer to where they are sold.
