Xiaomi to widen offline reach, aims at 1,000 stores by 2020

Xiaomi is leaving no stone unturned to ensure that it retains its status as the smartphone market leader.

The Beijing-based company is planning to open several hundred stores each year to accelerate sales. On Tuesday, Xiaomi CEO Lei Jun told local press that the company is eyeing for 1,000 stores by 2020.

Not that Xiaomi is yet to explore the option. It already operates some 33 ‘Mi Home’ outlets that act as both service centers and retail hubs. In addition to smartphones, the stores also feature a range of other products, including televisions, routers, air purifiers and electric cookers.

Lei says Xiaomi has adapted its strategies so consumers can “touch and test our products with the core technologies at stores”.

The announcement came on the same day the company released the much-awaited premium smartphones – Mi 5s and Mi 5s Plus. Xiaomi also unveiled its new 43-inch FHD TV and a 65-inch curved Mi TV 3s.

Asian markets have been key to Xiaomi’s success ever since it launched its first smartphone in 2011. Though the last two years saw Xiaomi at the top of its game, growing competition from brands such as Huawei and Oppo has dulled the growth prospects.

Market research firm IDC released a report in April this year that did not feature Xiaomi in the top five vendors list in China. Samsung, Apple, Huawei, Oppo and Vivo were the winners.

Much of Xiaomi’s sales have been through online channels that squeeze out middlemen, thereby reducing the costs. The major retail push by the company might help ramp up sales and take distribution to the next level.

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