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Almost half of these smartphones were sold in just three days . By comparison, it took the company a month last year during the same period to sell half-a-million smartphones. “India is an extremely important market in Xiaomis globalization strategy. It has become our largest market outside of mainland China,” Jun wrote. “When we entered India, there was extremely fierce competition. We have achieved such extraordinary growth in India firstly because of our vision to bring innovation to everyone with our high-quality products at incredible prices.” “Secondly, we have an amazing team in India. We will continue investing in India to deliver the best products to our Mi fans expanding our supply, ensuring the high quality of our products, and further improving our after-sales service,” he added. The feat comes as India celebrates Diwali festive season. Diwali is as big in India as Christmas is in Western countries. People often use this occasion to do most of their shopping. Ecommerce companies also make the most of it by holding big sales and offer lofty discounts on many consumer electronic products. Xiaomis growing retail and distribution network has played an important role in selling more phones.
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Regarding store growth, we have opened three stores since our Q2 earnings release. We opened new locations in Brooklyn, Missouri, and Algonquin, Illinois, while our recent opening in Maple Grove, Minnesota, was a relocation. We also expect to open our new showroom in Hoffman Estates, Illinois, this week, a relocation of our Schaumburg, Illinois, location. We expect to open four stores during the fourth quarter, bringing our total new store count for 2016 to 10 as well as the 2 relocations I just mentioned. We also took possession of a distribution center in New Jersey during the third quarter. We are adding this leased facility to create efficiencies in distributing product to approximately 20 current stores in the Northeast, where we still have significant densification opportunities ahead of us as well as to facilitate local pickups and deliveries. Operating costs are expected to approximately offset transportation savings at 2017 volumes, but we expect a solid net benefit from this initiative over the long term. The New Jersey distribution center will not manufacture setting or maintenance materials and is scheduled to be fully operational in January 2017. We are very pleased with our results through the first three quarters of 2016.
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