Xiaomi Looks To Dominate Global Smartphone Market With Launch In Spain
Xiaomi Inc., the Chinese smartphone maker, rolled out sales in Spain, its first raid into Western Europe as it revs up a delayed worldwide push into other developed areas around the United States and Europe. Xiaomi will originally trade its flagship Mi A1 handsets, having a price tag of 229 Euros (almost $265.85) from this week in Spain as well as Internet-linked goods such as air purifiers, scooters, and coffee makers. This move by Xiaomi will boost the global smartphone market.
“It is proof we are extremely, extremely serious to be a worldwide company, not only a Chinese firm and not only operating in developing nations,” head of global business for Xiaomi, Wang Xiang, claimed to the media ahead of the roll out in an interview this week. “We need to expand our visions to developed regions such as Western Europe, and that is just the initial step.” Xiaomi that was briefly the most valuable startup in the world in 2014 witnessed in 2016 sales stall in the middle of an unwieldy global expansion and strong rivalry from local competitors such as Vivo, Huawei Technologies Co Ltd, and Oppo.
At the time it recoiled from various overseas markets comprising Indonesia and Brazil, but in 2017 it has introduced and re-introduced sales in dozens of nations such as Vietnam, Indonesia, the United Arab Emirates, Russia, and Ukraine. “We are more alert now, we also have more sources,” claimed Wang, who stated that the firm has learnt lessons from last failed attempts and was now employing heavily out of the country. Wang previously this year took over the role when Hugo Barra, the high-profile executive, left the firm to join augmented reality team of Facebook Inc.
In July, Xiaomi locked a $1 Billion debt to boost its overseas growth and assist launch brick and mortar shops. Sales of Xiaomi this year have also been recovering, and it has overhauled Apple Inc. to turn out to be 4th largest handsets vendor by sales in China, boosted in part by aim on offline shops, as per a research firm as well as industry sources and insiders.