At the 50th annual World Economic Forum, Xiaomi said that it will focus on promoting its businesses in the markets that it exists already. The markets includes India, Southeast Asia, Latin America, Africa, and Western Europe. The company is also ready to deepen its globalization goals. According to Shou Zi Chew, president of Xiaomi International, taking Western Europe as an example, Xiaomi is currently the fourth-largest smartphone manufacturer.
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The interesting part is that it has a growth rate of 90% which is magnificent. In addition to mobile phones, Xiaomi’s scooters account for 17% of Western European markets. Furthermore, Xiaomi wearables have also become the second-largest brand in Western Europe.
Shou Zi Chew pointed out that the company has become a truly global enterprise. According to him, as of Q3 2019, Xiaomi has entered 90 countries around the world. Its Q3 2019 foreign market revenue accounts for 49%, and its total revenue in the first three quarters and was close to $10 billion. “So we are already a truly global company. We need to convey this message to as many collaborators as possible.”
Shou Zi Chew also believes that in 2020, Xiaomi will release more than 10 5G mobile phones in China. Many of these 5G phones will also be available outside China.