(Yicai Global) Nov. 23 -- Chinese smartphone giant Beijing Xiaomi Technology Co., plans to set up its third smartphone factory in India, as well as its first powerbank factory in the country through cooperation with a local partner, the Indian Business Standard reported yesterday.

Xiaomi, which has obtained a leading position in India's smartphone market, will set up a localized company to bring the world's best powerbank ecosystem to the country, said Manu Jain, Xiaomi India's vice-president, and general manager.

This new factory will make two kinds of power banks, namely, 10,000 milliampere hour and 20,000 milliampere hour models, priced at USD12.3 (INR799) and USD23.1 (INR1,499), respectively.

Xiaomi entered the Indian market in 2014 and owns two smartphone factories in Sri City, Andhra Pradesh. 95 percent of the firm's mobile phones sold in India are assembled locally.