Many companies would get complacent if they’d achieved the sort of success Chinese smartphone maker Xiaomi has had in India. Consider this—since entering India in July 2014, it has grown to control 29% of the Indian smartphone market, boasts of 75-80 million users, and accounts for the bulk (57%) of online smartphone sales. Xiaomi has also ramped up its production capabilities—seven manufacturing locations churning out three phones per second. And a new product launch every month.
But Xiaomi isn’t even close to taking its foot off the pedal. Because it’s seen what has happened to the companies who have.