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CHINA 5G A BIG FOCUS FOR XIAOMI SMARTPHONE BUSINESS


Background of Xiaomi

China 5G - Xiaomi Corporation was founded by Lei Jun in April 2010. It has headquartered in Beijing, China. Xiaomi is an internet company which produces smartphones, smart hardware, mobile apps, laptops, bags, trimmers, earphones, MI Television, shoes, fitness bands, and many other products. The core vision of the Xiaomi is to continuous innovation, with an unwavering focus on quality and efficiency. The company released its first mobile in 2011. It has achieved largest market share since 2011 to 2020. It is one of the largest Chinese mobile company and fourth in the world. Recently, Chew Shou Zi, CFO discusses the company’s global supply chain and launching 5G technology in China.

China 5G- Xiaomi Focus on 5G




China 5G a Big Focus for Xiaomi Smartphone Business

This is a first time that Xiaomi is representing itself at the World Economic Forum. It's because of their presence in 90 countries globally. From overseas market, Xiaomi revenue in the third quarter of 2019 is now about 49 percent of total revenue. It is pertinent to mention that their first three quarters of 2019 revenue outside from china is now very close to 20 billion dollars. It shows that Xiaomi is now truly a global company. Moreover, CFO told that we wanted to come here and we have shared this statistical numbers with many partners as possible as well planning to sell 5g smartphones in the US. The plan of 2020 is going to revolve mainly around the markets were already in including India, Southeast Asia, Latin America, Africa and of course with an emphasis on Western Europe and this includes markets like Spain Italy France Germany. Where we're picking a very good traction.

Comparison with Product Line China 5G

Presently, Xiaomi is the fourth largest smartphone maker and growing at 90 percent, which is the fastest in the top four in the Katyn in Western Europe in Spain itself. According to latest statistics, Xiaomi is the second largest smartphone maker in Spain. According to CFO, if you look only at the open market, we are already the largest smartphone maker in Spain but this is your smartphones as you know. We are more than a smartphone company. Our scooters are now more than 70% market share in some countries in Western Europe. our variables are very popular, and our wristbands are now the second most popular wristbands in Western Europe as well of course.

5G China Xiaomi More Concern About US-China Trade Relationship

Xiaomi has very sophisticated global supply chain and they are very big believers in the advantages of a global integrated supply chain. The trade tensions have an affected Xiaomi directly so far, but they are very optimistic about the long-term future of China in the United States. According to Chew Shou Zi that we're very optimistic about the relations between two countries because opportunities in terms of 5G. This launched a first smartphone in China sometime in October November last year and then in December. We followed up with a device that was priced at below 300 US dollars and that created a very big sort of a reaction within the industry because it was the most affordable 5G handset that anybody has ever produced in 2020. We expect to produce more than 10 (different models) 5G handsets in China to launch five 10 G handsets in China itself and we expect that in many other countries around the world. We will start launching a 5-3 portfolio as well but 5G in China is a very competitive space Huawei inching towards 50% of the market.

 Conclusion

Moreover, one of the most important things to know about Xiaomi company is that they are mission driven. They don't believe in just at the bottom line and selling as many products as they can to consumers. They have a very specific mission, which is to bring amazing products and honest prices. Likewise, I think they're the only company in our space to put a real emphasis on this. So, over the course of the last 10 years that they have proved as best and largest company. They have brought many very high type technologies to the mass market in the shortest possible time for example launching of first-generation phone at 1999 RMB. When everything else was priced as three times. According to CFA, we believe that 5G presents a very important opportunity for us. we see a great chance of success.

References

Xiaomi official website
Wikkipedia
Chief Financial Officer interview at Bloomberg technology 

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