Xiaomi to expand footprint in India with two new factories

New Delhi: Chinese smartphone maker Xiaomi has planned to set up two manufacturing plants in India and the company would be launching more devices in 2016.

The president of Xiaomi has said he would be spending a lot of time in India analysing the market.

"We believe it (China) will be a flat market, if not, even decline," said Bin Lin, co-founder and president at Xiaomi.

"We talked to Foxconn about opening two new factories, they are in discussions with some of the provinces (states)," the 48-year-old former Microsoft and Google executive added.

Headquartered in Beijing, China, Xiaomi is the world's fourth largest smartphone maker. Xiaomi designs, develops, and sells smartphones, mobile apps, and related consumer electronics.