Xiaomi has opened 200 physical stores for its Mi brand at its home turf in China in 2017 alone, successfully achieving its plan announced by no less than the company's Chief Executive Officer, Chairman, and Founder, Lei Jun last April. This Chinese tech giant just recently expanded its chain of Mi stores in the country by opening 20 more shops this month, bringing its total number of physical stores to over 300 across the country.
The Chinese phone maker had been offering its devices only through online channels until recently after the company decided to provide its customers with access to its products via brick and mortar stores. The online sales business allowed the company to keep its operating costs low while also passing those savings onto customers. In turn, this helps consumers get the value for their money, and although this business model still continues up to present, the company is gradually shifting to the offline sales model. With the recently opened physical Mi Home shops, Xiaomi's customers now have more ways to experience the Mi brand, which may influence their decision to purchase the company's handsets. While the company is rather new to the offline sales business, Xiaomi hopes to expand its physical stores in the future as it sees growth opportunities in such a business model. More to the point, the opening of new stores in China is part of a wider effort to establish around 2,000 new stores across the world in a span of just three years, although the company has not made any official announcement about plans to open Mi stores in other countries as of yet.
Last July, Xiaomi's Senior Vice President Wang Xiang announced that the Beijing, China-based tech company has plans to open a physical store in almost every country as part of its goal to become an international player in the mobile market in the near future. At present, Xiaomi is trailing Samsung, Apple and other tech giants in terms of smartphone market share. Now it remains to be seen whether the company's offline sales strategy will help boost the company's market share in the future.