Xiaomi CEO vows more global expansion and renewed assault on China market
The founder and CEO of Chinese technology company Xiaomi, Lei Jun, has written an extensive, rousing open letter describing his plans for the company years. His grand strategy includes further global expansion and a major push back in China, where the intention is to retake the number one spot in the mobile market.
Xiaomi hardware is available to buy in 70 countries around the world, which Jun describes as “only the beginning,” and says he has seen “huge market opportunities” in places he has visited over the past year. He specifically mentions India, Indonesia, and Vietnam, where Xiaomi products are already sold, but adds that there are many large parts of the world “waiting to open up” to Xiaomi.
Jun says the company will support the development of more localized products, devote more resources to win over new global markets, and is prepared to increase the amount of Xiaomi staff dedicated to building international relationships. At the end of 2017, Xiaomi made an ambitious launch in Spain, where it opened official retail stores and began selling several phones and other products online. This was viewed as a test case by many, examining how Xiaomi would perform with an official presence in a European country. Jun’s words do seem to indicate it has been successful.
Xiaomi isn’t losing sight of the work it needs to do in China, however. “Only by winning in China can we win the world,” Jun wrote, and has set a goal to retake the position of China’s number one mobile manufacturer in the next two and a half years. Which companies must it take on to achieve this? At the end of 2017, Xiaomi was fourth in China, behind Vivo, Oppo, and Huawei. Apple is also right behind Xiaomi, so Jun is giving his company a massive task, but it’s certainly well prepared.
Xiaomi has not only been No. 1 before, but it’s currently ruling the market in India, and during the final three months of 2017, managed to increase its phone shipments around the world by 83 percent, while the top three only decreased. Xiaomi has also been releasing some superb phones recently, including the Mi Mix 2 and the Mi A1, and there are rumors the company will hold its initial public offering (IPO) in 2018, which may explain Jun’s decision to publicly talk up the company to such an extent. Regardless of intentions, it’s obvious Xiaomi is ready for a battle in China and around the world over the coming years.
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