A privately owned Chinese software and electronics company, Xiaomi, has bigger plans laid out for the Indian market. As reported by the Economic Times, a Beijing based Smartphone Company has an expansion road map plan for the country of Indian. Among the goodies set for the Indians include, introduction of electric vehicles and payment banks.
In the filing report with the Registrar of Companies (RoC), Xiaomi says that it is capable of selling all types of transport vehicles, for conveyance and equipment transport, whether electrically or mechanically powered.
The company also wants to venture into the banking sector. In the filing report, the company states that it intends to take on the non-banking financial companies, payment gateway, leasing and financing, and mobile network operators.
Back in China, Xiaomi has announced the launch of electric bicycles, electric scooters, and fold-able models. The company also deals with manufacturing and selling of other electronics. Some of these products are; laptops, televisions, smart lighting products, electric toothbrushes and blood pressure monitors, bags, kitchen products and many other non-Smartphone products.
Xiaomi also makes home appliances that are currently in the Chinese market. They include washing machines, air conditioners, vacuum cleaners and water purifying machines.
Other Products Xiaomi Intends to Introduce to India
Apart from vehicles and banking, other products the company wants to sell in India include; computer accessories, gaming consoles, network equipment and lifestyle products.
Tarun Pathak, an associate director at Hong Kong, said the move could allow the company to manufacture and sell more than just Smartphones as it does in China.
In the memorandum of association amended by Xiaomi technology, India, the company plans to sell through both online and offline channels in the country.
However, a Xiaomi India spokesperson said. “We have expressed our interest in bringing several of our non-Smartphone products to India multiple times. But this will only be after ensuring that we have picked the right product and customized it to India’s needs.”