CFO Xiaomi Chew Shou Zhi recently visited popular news site Bloomberg, where he talked about the company 's plans. In addition to the development of 5G, in 2020 Xiaomi plans to increase its presence in Western Europe.
In Western Europe, Xiaomi wants to grow
Chew Shou Zhi joined Xiaomi as Chief Financial Officer (CFO) in 2015 and, as an investment professional, brought unique investment knowledge and professional financial skills. He currently leads Xiaomi's financial management and investment teams.
According to Chew, in 2020, Xiaomi plans to focus primarily on the 5G mobile network market in China. The company plans to launch the Chinese market by the end of 2020 at a minimum ten 5G smartphones.
In addition, it plans to launch its 5G product portfolio in other countries in which it operates. These include the markets of Southeast Asia, Africa, Latin America, India and, of course, Western Europe. When asked if Xiaomi plans to bring 5G devices to the US, however, Chew did not directly answer, which will not please fans in the US.
In 2019, Xiaomi achieved great success in the EU
Regarding plans in Western European countries, Chew claims that the company has made enormous progress in this area. It has become the fourth largest smartphone manufacturer in Western Europe. In Spain, Xiaomi is even the second largest producer of smartphones, which is solid performance.
However, the success of the company does not end with smartphones. Xiaomi is in Western Europe the second largest supplier of wearable devices.
Perhaps the biggest surprise on the EU market is the sale of Xiaomi electric scooters. Electric scooters are currently very popular and Xiaomi achieves in this segment more than 70% market share in many Western European countries, which Chew did not specify.
Xiaomi's share increased by 2019% in Western Europe in 90, making the brand one of the best and fastest growing companies in the field.
We are really looking forward to Xiaomi's 2020 and we are looking forward to what this fast-growing Chinese tech giant will bring us.
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