Xiaomi bets on offline expansion

Company plans to open 1,000 stores in China within the next three years

Chinese smartphone vendor Xiaomi Corp, best-known for its online sales strategy, said on Wednesday that it aims to generate 70 billion yuan ($10.2 billion) in revenue from its bricks-and-mortar stores in the next five years.

The announcement came as the Beijing-based company plans to open 1,000 stores in China within three years.