Xiaomi CEO: We’re in no rush to expand internationally
BEIJING – The Chinese smartphone company Xiaomi is in no rush to expand internationally and will expand into the overseas markets gradually, according to its Chairman and CEO, Lei Jun. "It takes time and resources to learn about and enter a new market due to different cultural, legal and business environments, and hasty expansion will cause into many problems," he said.
The tech firm started overseas expansion three years ago and is now selling products in more than 20 countries and regions worldwide, according to a report by State newsagency Xinhua. It took Xiaomi two years to become one of the top five smartphone brands in India, its largest overseas market, which brought in sales of about US$ 1 billion in 2016.
"India sets a good example whose experience can be shared in expanding into other countries, and Xiaomi will start from neighboring markets and then go for western ones," Lei said.
Lei, who is also a deputy to China’s National People’s Congres, believes the China-proposed Belt and Road Initiative offers good opportunities for Chinese tech firms to expand overseas by helping other countries develop IT infrastructure. www.webershandwick.cn (ATI).