Xiaomi has continued to expand in international markets and is currently developing very well and in Western Europe Xiaomi has become the No. 4 smartphone manufacturer, Chew Shou Zi, CFO and president of international at Xiaomi, said in an interview with Bloomberg TV on Tuesday.
Chew said that Xiaomi has become a truly global company. As of Q3 2019, Xiaomi has entered 90 countries, and Q3's overseas market revenue accounted for 49%. The total overseas revenue in the first three quarters was close to $10 billion.
Regarding business expectations for 2020, he said that in the global market, Xiaomi will focus on expanding its business into markets that have already entered, including India, Southeast Asia, Latin America, Africa and Western Europe.
He said that the current international development of Xiaomi is in good shape. Taking Western Europe as an example, Xiaomi has become the fourth-ranked smartphone manufacturer with a growth rate of 90%. Its market share of open channels in Spain also ranked first.
Besides smartphones, Xiaomi ’s scooter has a 17% market share in Western Europe, and wearables have become the second largest brand in Western Europe, he said.
In China, 5G mobile phones will be the focus of business. In 2020, Xiaomi will release more than 10 5G phones in China, he said.
Xiaomi has released the first 5G mobile phone in August last year, and in December, it released the Redmi K30 5G with a base price of less than $ 300, becoming the lowest price 5G mobile phone on the market.
Chew said that in 2020, Xiaomi will release more than 10 5G mobile phones in China, and will also release them in other countries.
