Xiaomi, a Chinese electronics company and currently one of the largest smartphone producers in the world, still has its eyes on entering the U.S. market, according to Xiaomi’s President.
The company has been reportedly building its way to the U.S. market since 2018, but that did not happen by far.
At the sidelines of the World Economic Forum in Davos, Shou Zi Chew, Xiaomi’s President and Chief Financial Officer, told CNBC that the company still has the U.S. market in its expansion list.
Xiaomi has already penetrated markets in Asia, including Thailand, and has shown its dominance over Samsung in India. The company also has a successful in European business. “Over the course of the next few years, we’re going to put an emphasis on Western Europe,” said Shou.
However, to conquer the American market which is full of Apple and Samsung, Xiaomi has to step up its game to a whole new level. The trillion-dollar company would not stand by and doing nothing while a Chinese company is trying to take its market shares.
Nevertheless, Xiaomi has to enter the U.S. market first or there will not be any step two.
“The reality is that we are still a nine-year-old company … Our global expansion only started sometime in 2014, 2015. So we still need more time in order for us to grow into new markets,” Shou told CNBC. “And in time, I would like us to grow into as many markets as we can so that we can provide our products to as many users as we can … including the U.S.”
The Chinese technology giant such as Huawei also failed to do so. In 2018, Huawei was rumored to plan its debut of Huawei Mate 10 in the U.S. through AT&T in February, but the latter back off a month before the initial plan.
If Xiaomi can somehow enter the U.S. market, it could be the biggest Chinese phone to be sold in the state, not to mention laughing from above while looking down below at Huawei.