The Chinese company Xiaomi conquered the local market and now it is gearing up for global expansion. The company's chairman Lei Jun announced this at a conference in Beijing.
Although Xiaomi has existed only for four years and produces only three models of smartphones, it seized up 7% of the Chinese market and gives in only to Apple. Recently the manufacturer also has promoted its first television set and media player, therefore the time has come to develop wings and a trial of strength on other markets. Lei Jun is careful, and with a large dose of common sense he is not going to attack yet Western Europe or the USA. Xiaomi will focus on the so-called emerging markets of India, Brazil and Russia. There a penetration of branded and expensive smartphones is still not as strong and in this Xiaomi sees its chance. With inexpensive, but impressing with specifications phones, it has good prospects there. Mr. May said that subsequently Xiaomi products go on sale in Malaysia, Indonesia, Thailand, Vietnam, Turkey, Mexico and the Philippines. The plan is ambitious: to sell 100 million phones, which is five times more than today. And when I read about the Xiaomi plans, their outstanding financial results of the trade, while glancing at the current smartphones offer... I would not mind if the company has decided to pay a visit also to us.
Source Bloomberg
