Xiaomi sees big future in bricks-and-mortar outlets

Smartphone maker Xiaomi Corp will continue its offline expansion, and is confident about replicating the success of its web sales at its self-owned bricks-and-mortar retail stores.

The tech company opened 51 stores across the country in the past year and plans to increase the number to 250 by the end of this year, and to 1,000 in three years.

Lei Jun, Xiaomi's founder and CEO, revealed the business plan on Monday at a news conference in Beijing, claiming that Xiaomi has found a "feasible and highly efficient" format for "New Retail".