Xiaomi CEO Lei Jun Silent on US Expansion Plan Amid Trade War, Focuses on European Markets
The company now derives 43.9 per cent of its revenue from overseas markets including India and Europe, where it has made significant expansion, according to the firm’s third-quarter financial results. Xiaomi has said that it wanted overseas business to account for 50 per cent of its total revenue.
Lei said the company also plans to enter markets in Africa and the Middle East.
Xiaomi, however, saw its domestic market share in smartphones decline to 13 per cent in the third quarter, down from 14 per cent a year earlier, according to Counterpoint Research.
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Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.