Forget cola, chips and condoms, now buy your smartphone from a vending machine

You may have purchased a can of cola, chips or may be even a condom from a vending machine, but that's not all, this technology giant is exploring growth in an innovative manner.

Chinese device maker Xiaomi has adopted a new retail strategy and has announced the Mi Express Kiosks initiative in India. The Mi Express Kiosks allow buyers to purchase Xiaomi smartphones and mobile accessories straight from a vending machine.

Xiaomi is now the first technology brand in India to offer smartphones and other gadgets via a vending machine. The move will make it convenient for customers as the machines accept payments via credit cards, debit cards, cash and UPI.

The vending machines have been placed at technology parks, metro stations, airports, and shopping malls across various metro cities. Xiaomi aims to set up numerous kiosks in the coming months, and would gradually expand the retail plan across more cities.

Consumer convenience apart, the retail model provides the company with cost efficiency and scalability thus making devices more cost effective.

"By introducing these vending machine-style kiosks, the brand has yet again developed an innovative New Retail strategy in reaching out to its consumers directly, eliminating operational and cost inefficiencies for the consumers. This enables Xiaomi to provide its latest smartphones to its Mi Fans at an honest pricing, similar to that of Mi Homes and Mi.com," the company statement read.

"Mi Express Kiosks serve as a highly effective New Retail initiative for consumers and Mi Fans to easily access and buy Xiaomi products instantly in offline markets. Mi Express Kiosks will soon be installed throughout the metro cities and customers can also easily access information on the locations of these kiosks on Mi.com," the company added.

Staying true to its "Make in India" pledge, the smartphone maker has said that all technology behind the Mi Express Kiosks has been researched and developed in India.