When Xiaomi first launched in India in 2014, its goal was to sell at least 10,000 smartphones in the country. Xiaomi now accounts for over 30% of India's smartphone sales, according to industry estimates. "You will laugh at me if I tell you the initial plan," Manu Jain, managing director of Xiaomi India, told CNNMoney in an interview. "To build a long term sustainable business in India, we have to act like a local Indian company," he added. Once a clear leader, the company is currently placed fourth in China's slowing smartphone market, behind local rivals Huawei, Oppo and Vivo.

Source: CNN April 30, 2018 14:37 UTC