After Huawei started rapidly losing its position in the smartphone market due to American sanctions, its place was successfully taken by another Chinese company - Xiaomi. And it has quite ambitious plans - to eliminate competitors and lead the market.
A serious goal
Lu Weibing, senior vice president of Xiaomi Group China and CEO of Redmi, said in interview the other day that the company's goal is to become number 1 in the smartphone market within the next 3 years. To do so, it intends to reach 30 ,000 retail stores in China in this timeframe (currently there are 10 ,000 stores), because in retail, Xiaomi is still behind competitors, focusing on online sales.
True, in order to lead the smartphone market, Xiaomi needs to get ahead of serious opponents in the form of Apple and Samsung. With Apple it is already"is pulling " for some time, the Chinese manufacturer has even managed to move briefly rival from second place. But the main problem is Samsung, because the South Korean giant has remained the unchanged leader in sales for years.
In addition to its plans to dominate 2024, Xiaomi is also targeting mass production of its own electric cars by that date.