The co-founder and co-founder of Xiaomi Lei Jun appeared on Bloomberg in an interview in which he shared information on the performance of the company up to that time and what the & rsquo; company does not see the time it arrives in the new year.
The company's share has declined in recent days, canceling around $ 6 billion of its market valuation. However, Lei Jun shrugged saying that the company is adopting next-generation technologies that should stimulate demand for their smartphones.
While he did not comment on how an economic deceleration could affect the business, he was confident that 5G technology could revive the demand for smartphones and the host of internet services offered from Xiaomi. The company offers a range of online services, including film and music streaming to approximately 220 million users. He said:
In China, the penetration rate of smartphones is extremely high. But I think we are on the eve of 5G. I believe that when 5G phones will start to become popular, China's overall demand will recover.
Xiaomi, which is dominating the Asian market, is planning to expand into other regions. The company will soon expand on the European market but there is no progress on US expansion plans. This could probably be due to the ongoing US-China trade war. He said that in the last two or three years, the company has entered some 80 countries and regions and hopes the company will continue to give momentum.
Read more: Redmi Note 7 with premium glass body, 19.5: 9 screen and a 48MP camera is now only official for 999 Yuan (about $ 147)!
Yesterday, alongside the launch of the Redmi Note 7 smartphone, the company also announced that the Redmi brand will operate independently of its parent company. This move will allow the Chinese company to distinguish products, operations and working methods. Now it has three brands: Mi for premium high-end phones, Redmi for budget devices and Little for "flagship" devices.