Chinese smartphone maker Xiaomi is the leading smartphone maker in India. It has been growing at a rapid pace in a market where a number of users are coming online for the first time. While its growth remains unprecedented in India, the company has lost market share in its home market. Now, it seems Xiaomi has found a new opportunity to grow in Europe. The company has reportedly become the fourth largest smartphone maker in Western Europe in 2019.
Shou Zi Chew, President of Xiaomi International, revealed his company’s performance in the European market. He stated that Xiaomi registered a growth of 90 percent year over year in 2019. The company thus became the fourth largest smartphone maker in Western Europe. He also revealed that the company recorded a revenue of $10 billion for the first three quarters of 2019. Chew told the media that the company aims to release over ten 5G smartphones. The company also plans to make these 5G smartphones available globally in 2020.
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The confirmation of Xiaomi’s growth in Western Europe is significant. The company has made these announcements just weeks ahead of Mobile World Congress 2020 in Barcelona, Spain. At MWC last year, Xiaomi made its big foray into the European market. This year, the company is further expected to expand its product offerings to cover more segments. Shou also revealed that Xiaomi scooters make up 17 percent of the market in Western Europe.
Xiaomi, which started its journey as a smartphone maker, wants to be an ecosystem player. It has invested in a number of startups and also supports crowdfunding products. With Huawei already leading in the European market, Xiaomi has a good opportunity. At MWC next month, we will get more updates on Xiaomi’s strategy for the European market. It is likely to evolve beyond smartphones and include smarr devices and IoT products.