Xiaomi ties up with Foxconn in India, unveils first locally made smartphone, the Redmi2 Prime

Chinese smartphone maker Xiaomi Inc has tied up with Taiwan’s Foxconn to start assembling phones in India – its first such move in the world’s third largest smartphone market as it seeks to expand its market share and cut costs.

Since Xiaomi already sells its low-cost phones in India, a manufacturing presence would help the company in gaining a stronger foothold by allowing it to handle inventory more efficiently and reduce shipping lead times.

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