Xiaomi is bringing its Mi series of offerings to ten international markets by the end of this year.
Xiaomi announced that it will expand to cover ten international markets by the end of the year. The Chinese smartphone manufacturer is one of the most popular brands in China and accounts for 7 percent of all smartphone sales in the country. In 2013, Xiaomi sold 18.7 million handsets, just shy of its 20 million estimates. This year, Xiaomi aims to sell 40 million handsets.
To achieve that goal, the vendor is expanding to new markets that include India, Brazil and Russia along with Malaysia, Indonesia, Thailand, Vietnam, Turkey, Mexico and the Philippines. Xiaomi’s handsets are already available in China, Singapore, Hong Kong and Taiwan.
In addition to handsets, Xiaomi also sells routers, a 47-inch 3D TV that features a Snapdragon 600 and runs MIUI, a custom Android ROM that is one of the most downloaded in the world. The brand is known for launching flash sales of its handsets, in which it makes 100,000 units available online. Its most recent 12-hour fan festival flash resulted in sales of 1.3 million handsets and generated revenue of $240 million, which gives a clear indication as to how much interest there is in Xiaomi’s handsets.
To make it easier for consumers to relate to the brand, Xiaomi is going to be rebranded as Mi. It recently bought the Mi.com domain for $3.6 million, which was the largest figure shelled out for a two letter domain this year. Mi is not only easier to pronounce, but also serves to consolidate the banding across all offerings, like the Mi 3 smartphone, Mi TV and Mi Box router.
Xiaomi Co-founder and president Bin Lin mentioned that he was confident that Xiaomi can find success in international markets, and said that Xiaomi’s ability to sell handsets directly to customers online will be an advantage as this allows the manufacturer to cut down on distribution costs.
“It’s our mission and our belief that this model should be able to achieve some level of success outside of China,” he said.