Xiaomi, one of the top smartphone company in online retail space is investing Rs 15,000 crore in manufacturing under ‘Make in India’. This step is to further strengthen the local manufacturing capabilities of the company. Company has announced the first SMT (Surface Mount Technology) plant dedicated towards local manufacturing of PCBA (Printed Circuit Board Assembly) units in Sriperumbudur, Tamil Nadu, in partnership with Foxconn. PCBA is one of the most important components of a smartphone, and contributes to nearly 50 per cent of the value of the phone. This is a step to decrease the overall manufacturing cost by manufacturing such components in India. With a 57 per cent share in the first quarter of 2018 Xiaomi has surpassed big brands like, Samsung and the Huawei.