Zhou Shouzi, president of the International Department of Xiaomi Group, said during the 50th annual meeting of the World Economic Forum that in 2020, in the global market, Xiaomi will focus on promoting business in the markets it has already entered. They include India, Southeast Asia, Latin America, Africa and Western Europe. In these markets, they will continue to deepen the globalization of Xiaomi.
He also said that the current development situation is good. Taking Western Europe as an example, Xiaomi has become the fourth smartphone manufacturer with a growth rate of 90%. In addition to smartphones, Xiaomi’s scooters account for 17% of Western European market, and wearables have become the second largest brand in Western Europe.
So it turns out, after conquering the Chinese and Indian market, this company swallows other markets one after another. Western Europe was the third in its list. So which one is on the way?
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Zhou Shouzi pointed out in an interview that Xiaomi has become a truly global enterprise. It stated that as of Q3 2019, Xiaomi has entered 90 countries around the world, and Q3’s overseas market revenue accounted for 49%. Its total overseas revenue in the first three quarters was close to $10 billion. ‘So we are already a truly global company, and we want to come and convey this message to as many collaborators as possible.’
The Xiaomi executive said that in 2020, Xiaomi will release more than 10 5G smartphones in China, and ‘we will also release them in other countries’.