The rapid decline in the results of Huawei’s smart phone business and sales, especially after falling under the weight of US sanctions, has created an opportunity in the market for another Chinese technology giant that can fill the void.
It is the “Xiaomi” company, which seeks to be the new Chinese smartphone king, after it was the third largest seller of smartphones around the world at the end of last year, behind Apple and Samsung.
In Beijing, Xiaomi announced an increase in sales in multiple regions, with a 57% jump in phone shipments to Western Europe, and a 52% increase in China, and last year’s revenue increased by more than a fifth.
Despite these results, the Chairman of Xiaomi Corporation, Wang Xiang, always emphasized that the company still had a lot of room for development and growth. The “Wall Street Journal” reported that “Xiaomi”, which was founded in 2010, took only half a decade to reach the top of the Chinese smartphone market by selling it to the rising class of consumers connected to the Internet in China.
The company’s inexpensive and elegantly designed gadgets – from phones to internet-connected rice cookers – have spread across China, and are making rapid progress in India as well.
But Xiaomi’s biggest move came in Western Europe and China, where its strong marketing and well-established sales network helped it gain market share from its rival Huawei.
Xiaomi succeeded in avoiding the fate of Huawei in the United States, when a federal judge in Washington, DC, decided to stop the ban imposed on it during the era of former US President Donald Trump, after the Pentagon added Xiaomi to the list of Chinese companies suspected of links With the Chinese army.
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