Xiaomi is shifting its focus for the time being towards India and Indonesia, two key markets. The company, which is now the third largest smartphone maker, is slowing expansion in order to focus on the markets it is already in. Previously, Xiaomi was interested in further expanding to reach 10 markets by the end of December.

Global VP Hugo Barra says it is better for the company to defer its expansion to 10 markets in order to "put a ton of effort in India and Indonesia before expanding further." Xiaomi is operating in eight markets, including its home market of China.

Xiaomi is in the middle of speaking with Foxconn about a possible manufacturing deal for its phones in India and Indonesia.