Xiaomi has big plans for the future because plans to overtake Samsung and Apple in 2024. In other words, Xiaomi plans become the world’s #1 smartphone maker by 2024.
The statement comes from the company’s CEO, Lei Jun, who shared the company’s plans at the event to present its Xiaomi 12 and 12 Pro flagships yesterday.
Lu Weibing, senior vice president of Xiaomi Group China and managing director of Redmi, made a similar statement last month.
How does Xiaomi intend to reach it?
The company plans to focus first on increasing its sales in the Chinese market. To do this, it will expand its physical stores, as 70% of smartphone sales in China are made in stores. She plans to expand them to 30,000 over the next three years.
Regarding the global market, Lei Jun believes that Xiaomi must focus on its own products, and that will be enough. He says the company won’t focus on outperforming any one brand, but instead will make great products to rival them all.
Nowadays, Xiaomi is the world’s third largest smartphone maker. However, it is very close to Apple, while Samsung is still way ahead if all factors are taken into account.
Xiaomi’s growth rate was impressive.
The fact that Huawei was banned by the United States did nothing more than boost Xiaomi’s sales and growth. If Xiaomi were able to sustain this growth, it could achieve the goal the company set for itself.
A lot can happen by 2024, of course, but it will be interesting to see what happens, as the competition is very good for us consumers.