The smartphones company has already started selling its products in Spain and will soon enough sell them in France and in Italy. The UK and other European regions are also looked upon by Xiaomi.
Last week, Xiaomi announced its IPO on the Honk Kong stock exchange, seeking a $10 billions valorisation. 30% of these funds should be used to speed up the company’s European expansion.
In November 2017, the company already have settled down in Spain. It just announced expanding its business to France and Italy on the 22nd and 24th of May. It should put on local e-shops and partner up with different retailers, both online and off, to diversify its offers.
Its recent partnership with CK Hutchison will allow let Xiaomi sell its products (smartphones, accessories and also smart home connected objects) in its 3 stores in England, Ireland, Austria, Denmark and Sweden. A good way for the Chinese company to check the pulse of the European market before settling down there for good.
China is still Xiaomi’s biggest market
The “Chinese Apple” offers affordable and capable phones to the public. It is not surprising to see that its sales went up by 87% between the 2017 and 2018’s Q1.
Yet, the company still struggle to get out of the Asia’s market. China represents 72% of its sales today (compared with 94 et 87% in 2015 and 2016.) A clear improvement for the brand, which already became the top-selling brand of the country.