Xiaomi aims to bite Apple on its turf
Print Edition
XIAOMI Corp will initially start small by selling products like smart wristbands and mobile power chargers when it opens an online store in the United States, the Beijing-based company said yesterday.
The store marks the first step for the start-up Chinese smartphone vendor to penetrate the US market, and key products like smartphones and tablets won’t be sold initially, said Xiaomi.
The new US online store, called Mi.com, will sell products such as bands, chargers and headphones, Xiaomi said at its first press conference in the US yesterday.
“We will bring more exciting software and hardware products to more consumers in overseas markets,” Lin Bin, Xiaomi’s president, said in a statement.
Xiaomi currently sells its products in China and seven other markets, including Singapore and India.
By the third quarter of last year, it ranked the No. 1 smartphone vendor in the Chinese market, the world’s biggest.
Xiaomi yesterday also said that a total of 100 million users globally are using its MIUI operating system.
Xiaomi expects to sell 100 million phones this year after it sold 61.1 million units last year, a 227 percent jump from 2013, beating its annual target of 60 million units.
In 2014, Xiaomi’s revenue surged 135 percent to 74.3 billion yuan (US$11.91 billion).
After the firm raised US$1.1 billion in December, privately-owned Xiaomi is said to be valued at US$45 billion.
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