Chinese smartphone maker Xiaomi to expand to 10 markets this year

Jeremiah Yap – Fourth Estate Cooperative Writer

San Francisco, CA, United States (4E) – Popular Chinese smartphone company Xiaomi has announced its plans to enter 10 more markets this year. Xiaomi is known for selling its smartphone models in a span of only minutes and consistently outselling Apple in China.

Xiaomi wants to accelerate its expansion quickly.

“You can certainly call this an acceleration. It’s our mission and our belief that this model should be able to achieve some level of success outside of China,” Xiaomi President and co-founder Bin Lin said in an interview after the event, according to Bloomberg News.

Among the few countries with Xiaomi’s presence include Hong Kong, Taiwan and Singapore. Xiaomi chief executive office Lei Jun has confirmed that the company will start launching its smartphones in Mexico, Brazil, Russia, Turkey, India, and several emerging markets in east Asia.

Xiaomi plans to sell 100 million smartphone units by next year.

In the fourth quarter of last year, Xiaomi grabbed 7 percent of the Chinese smartphone market, according to research firm Canalys. Aside from its popular smartphone models, Xiaomi also offers a set-top TV Box.

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