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September 28, 2016

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Lei: Xiaomi to open 1,000 stores by 2020

By Zhu Shenshen | September 28, 2016, Wednesday | Print Edition

XIAOMI Corp yesterday announced plans to open 1,000 stores in three to four years, instead of promoting itself on the Internet.

The company has just 25 stores now.

“We want consumers to touch and test our products with the core technologies in the stores,” said Lei Jun, chief executive of Xiaomi. “We have adapted our strategies.”

Currently, Xiaomi has 25 offline stores nationwide, including one in Shanghai, offering products and hands-on experiences to consumers. Its products range from smartphone, TV, router, air purifier, electric cooker and water purifier.

“Xiaomi will open 1,000 stores by 2020,” Lei said.

The Chinese company is losing its market share to domestic rivals like Huawei, Oppo and Vivo. It is ranked out of top-five smartphone brand in China.

The company yesterday released Xiaomi 5S smartphone with ultrasonic wave fingerprint recognition and dual-camera design. It also unveiled a 65-inch smart TV with contents offered by Internet video websites iQiyi, Youku Tudou and Tencent.

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