Xiaomi opens first offline store in India; plans 100 in two years

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Chinese smartphone giant Xiaomi has opened its first offline store 'Mi Home' in India as it looks to reach out to more offline customers and double its revenue to $2 billion in the current fiscal.

Xiaomi recently became the second largest smartphone vendor in terms of sales in India, the fastest growing smartphone market in the world. The company's success here comes at a time when it has slipped to the fifth spot in China, beaten by rival Apple.

The Mi Home store located in Phoenix Market City, an upmarket mall in the Whitefield locality, will be owned and operated by Xiaomi, allowing the company to retain its margins. Xiaomi says its goal is to match the efficiencies of selling devices online with devices sold in its offline stores.
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