Xiaomi, the four-year-old smartphone company that sells more smartphones than Apple in China, is planning to sell its smartphones in 10 new markets this year. Lei Jun, Xiaomi’s founder and CEO, aims to sell 100 million smartphones annually by 2015, Bloomberg reports. The ten new markets include India, Brazil and Russia along with a few South East Asian countries, Jun announced at a launch event in Beijing today. Hugo Barra, Xiaomi’s VP for international markets had earlier mentioned the new markets and said Xiaomi wanted to first launch in South East Asia followed by India and then Latin America.
Xiaomi sold 18.7 million smartphones last year and has about 7 percent smartphone market share in China. The company launched its operations in Singapore earlier this year, making it the first major market outside China. Earlier Xiaomi had launched its smartphones in Hong Kong and Taiwan. Earlier this month, Xiaomi sold goods worth $240 million in a single day during an online flash sale called Mi Day, to celebrate its fans.
Before its India launch, Xiaomi will set up its local offices in India and will retail smartphones through its own online retail platform. The company also renamed its website to mi.com in order to make it more acceptable to international users, who might find it difficult to spell Xiaomi.