On February 19, Xiaomi opened its first authorized store in the Philippines and attracted more than 2000 people to the store.
Xiaomi Founder Lei Jun shared the good news, “The core reason that Xiaomi is very popular in each country is that Xiaomi insists on producing attractive and affordable products. Thanks to the support of Mi fans all over the world!”
At the 2018 Xiaomi Annual Meeting, Xiaomi’s Senior Vice President of Strategic Cooperation Xiang Wang said that Xiaomi expanded abroad rapidly and successfully. So far, Xiaomi products are available in 73 countries and regions. Xiaomi ranks first in India’s market share and is among the top three market competitors in nine countries .
In the past year, Xiaomi expanded aggressively into the Southeast Asian market. Xiaomi has more than 300 retail stores, two-thirds of which were opened last year. Lei hopes that Xiaomi could establish another 1,000 “Mi Homes” (shops that allow consumers to experience and buy all Xiaomi products) in the next three years, implying that Xiaomi is actively building offline retail and after-sales service systems.
On January 6, Xiaomi opened its first authorized store in Vietnam, and later established authorized stores in Indonesia and Egypt. Mobile phone industry data show that China has entered a period of stagnated growth. Chinese consumers are not buying new devices until they need to upgrade and replace existing ones. Therefore, top brands are focusing on overseas markets.
Xiaomi, Huawei, OPPO and other brands are actively expanding their overseas channels and market shares to make up for the sales stagnation or even decline in the domestic market.