The Rise and Rise of China's Xiaomi in India

A couple of years ago in 2015, MIT Technology Review ranked Xiaomi number 2 on their list of 50 Smartest Companies -- a list that also had companies like Apple, Google, and Microsoft who were rated far below the Chinese smartphone and smart home products maker. This was exactly a year after Xiaomi landed in India -- the company's biggest market outside of China. In almost three years, the company has since become the number two brand in the overall Indian smartphone market, behind the long-standing leader, Samsung. India is a very important market for smartphone makers as it is expected to double in size in terms of sales by the year 2020. In the last three years, smartphone sales have tripled in the country to 120 million in 2016.

Business, Economy