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Xiaomi eyes formal expansion of market presence to the US

By Nestor Domingo Jr & Kenny Yeo - on 6 Mar 2018, 1:53pm

Xiaomi eyes formal expansion of market presence to the US

Despite not being officially available in the United States, mobile brand Xiaomi still enjoys the recognition of being one of the world's biggest smartphone companies.

Still, the Chinese smartphone giant looks they are set to finally enter the US market, according to Xiaomi CEO Lei Jun.

"We’ve always been considering entering the U.S. market. We plan to start entering the market by end 2018, or by early 2019," said the Chinese mobile firm executive during the China's annual legislative session in Beijing.

The report also says that Xiaomi will face serious challenges by the time it enters the US market. Obviously, the mobile firm will compete against the dominance of Apple and Samsung, and it will have to form partnerships with telcos.

Additionally, there has been rising security concerns against Chinese smartphone brands in recent times.

As it expands into the stateside, Xiaomi could face patent lawsuits, and to mitigate this, they signed a patent deal with Nokia last year.

Finally, Xiaomi is rumored to be planning a Hong Kong IP later this year and hopes to raise around US$10 billion to fund its expansion plans. This means the company would be valued at between US$80 to US$100 billion.

Source: The Wall Street Journal