After launching its Mi Store in Romania, China-based Xiaomi is now expanding its European fleet of Mi Stores and is all set to open its first such store in Portugal. The company has now announced its plan to open its first official Mi Store in the Iberian country on June 1st.
Currently, the exact location of the upcoming Mi Store is not yet known but it’s likely that it’s going to be based in the capital city of Lisbon. Xiaomi Portugal mentioned that more details will be revealed next week alongside an even bigger surprise.
Xiaomi has been actively focusing on expanding its European presence and thanks to its efforts, the company is now among the top four manufacturers in Western Europe. Despite slow growth in its home market of China, Xiaomi is looking strong in Europe and plans to reach 150 stores by the end of this year.
The company revealed 115 percent growth in shipment of smartphones in the European region. It reported net profit growth by 22.4 percent year-over-year compared to 2.1 billion yuan (approximately $300 million). Its total revenue climbed 27.2 percent to 43.8 billion yuan (approximately $6.33 billion).
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International markets generated over 38 percent of its total revenue over the first quarter, representing a 35 percent increase. The biggest source of revenue for the company continues to be the smartphone business.
(Source)
