Despite growth in Chinese demand that is difficult to keep up, Xiaomi wants to gain a foothold in other countries before it is too late. Hugo Barra declared during the last edition of LeWeb to be in search of new markets and to conquer them as quickly as possible.
While Xiaomi has created a highly successful high-end MI3 smartphone, the Chinese strategy would be to launch a new smartphone at less than $ 50 to conquer saturated markets such as Japan.
Founded in June 2010 by Lei Jun and Lin Bin, the mobile manufacturer Xiaomi today represents 5% of the smartphone market share, with 20 million smartphones sold in 3 years. The company aims to produce 40 million units in 2014. Its valuation is 10 billion dollars, the company counts among its investors Temasek, IDG Capital and Qiming Venture Partners.