Xiaomi plans to launch more than 10 5G smartphones in 2020
https://newsstechh.blogspot.com/2019/10/xiaomi-plans-to-launch-more-than-10-5g.html
Xiaomi plans to launch more than 10 5G smartphones in 2020
"The Chinese smartphone company Xiaomi Corp plans to launch more than 10 5G phones in 2020," Xiaomi CEO Lei Jun said on Sunday at the World Internet Conference in Wuzhen, east China.
Lei Jun's comments come as the company faces stiff competition in its domestic market from Huawei. Last month, Xiaomi launched the Xiaomi Mi 9 Pro, the first 5G phone for the local market.
According to Lei Jun, phone demand exceeded the company's expectations and led to supply chain problems. Receiving the device prompted Xiaomi to launch 5G models for high, medium and low price levels next year.
"People are afraid that 4G models will not be sold next year," Lei Jun said.
Xiaomi's stock price fell steadily last year as China's smartphone market grew further. In September the company announced that it plans to buy back $ 1.5 billion.
In the second quarter of 2019, Xiaomi occupied 11.8% of the smartphone market in China, down from 13.9% a year earlier, according to research firm Canalys.
However, Xiaomi has enjoyed success in Europe, where she is still a relatively new player on the continent. The company's market share in the region during the second quarter of 2019 reached 9.6%, up from 6.5% the previous year, making it one of the fastest growing phone brands in the region.
"The Chinese smartphone company Xiaomi Corp plans to launch more than 10 5G phones in 2020," Xiaomi CEO Lei Jun said on Sunday at the World Internet Conference in Wuzhen, east China.
Lei Jun's comments come as the company faces stiff competition in its domestic market from Huawei. Last month, Xiaomi launched the Xiaomi Mi 9 Pro, the first 5G phone for the local market.
According to Lei Jun, phone demand exceeded the company's expectations and led to supply chain problems. Receiving the device prompted Xiaomi to launch 5G models for high, medium and low price levels next year.
"People are afraid that 4G models will not be sold next year," Lei Jun said.
Xiaomi's stock price fell steadily last year as China's smartphone market grew further. In September the company announced that it plans to buy back $ 1.5 billion.
In the second quarter of 2019, Xiaomi occupied 11.8% of the smartphone market in China, down from 13.9% a year earlier, according to research firm Canalys.
However, Xiaomi has enjoyed success in Europe, where she is still a relatively new player on the continent. The company's market share in the region during the second quarter of 2019 reached 9.6%, up from 6.5% the previous year, making it one of the fastest growing phone brands in the region.
