At the maiden edition of Chinese International Import Expo held in Shanghai, Lei Jun, founder of Xiaomi, revealed some information related to the company’s quest to go global during trade and investment parallel forum.
He revealed that Xiaomi now has a presence in 82 overseas markets, which is not a small feat considering that the company began its plan for the global presence in the year 2014, four years after Xiaomi was founded in China.
As of the second quarter of 2018, Xiaomi’s international business grew by 150 percent and has successfully entered 82 foreign markets. Among the 82 markets the company is present it, the brand ranks among the top five in about 25 markets.
Lei Jun further added that the aim to Xiaomi is to bring high-quality products to local consumers with good pricing. The company is also investing to train local teams and manufacture products locally. For instance, 95 percent of Xiaomi’s products in Indonesia are manufactured locally. In India, the company has already established local manufacturing units and has also started investing in startups to develop the overall mobile internet industry.
Once again, Xiaomi beat its rival Samsung to be the leading smartphone brand with most shipments in the Indian market in the third quarter of this year, as per the report from Counterpoint Research. Xiaomi’s overall market share during Q3 2018 comes at 27 percent while Samsung managed to grab 23 percent on market share.
In Indonesia, Xiaomi became the second largest brand for the first time and is leading the sub-$150 segments. It holds 22 percent market share in Indonesia while the leading brand Samsung holds 25 percent market share.
The company continues to expand globally and with gains in the market share in various countries, Xiaomi’s global shipment numbers are also growing. The company reportedly shipped 9.7 percent of all smartphones shipped worldwide during third-quarter this year. Globally, Xiaomi ranks fourth in terms of smartphone shipments having shipped over 34.3 million units in Q3 2018, just behind Samsung, Huawei, and Apple.
Apart from India and Indonesia, the company is also making headway into European markets like Spain where it continues to cause disruption. Xiaomi is now all set to enter the UK later this week and plans to open its store in London on 10th November.