Xiaomi’s founder Lei Jun has laid the clearest marker yet of the company’s intention to be the leader in the global market of high-end smartphones. Lei Jun, Xiaomi Corp’s founder, and CEO says that the company aims to fully benchmark against Apple in terms of its products and the overall user experience using these products. The focus will be on the high-end segment of the global smartphone market where Apple has a commanding market share in the aftermath of Huawei’s problems.
The tech giant’s CEO described the competition in the high-end segment of the smartphone market as a war of life and death, which the company must overcome in order to sustain its growth. Apple remains the leading light in the premium segment of the global smartphone market, and Xiaomi obviously has its job cut out for it. There is a rush by Chinese smartphone makers to feel the huge vacuum created due to the crumbling of the Huawei brand, and Xiaomi is taking a pole position in the competition among China’s leading tech firms. Lei said that the company’s strategic goal is to develop into the world’s largest smartphone vendor by 2025.
Xiaomi had indeed had an upward trajectory in the last couple of years in which the fortunes of Huawei were moving down south. It has created a leading position for itself in the Chinese market and globally as well. Lei says Xiaomi is committed to investing 100 billion yuan ($15.71 billion) in R&D over the next five years in pursuit of its strategic goals. Xiaomi will continue to contend with some heavy hitters at the high end of the smartphone market like Apple and Samsung. The recent global data shows that Xiaomi is doing a good job at the top, and it could overtake Apple or Samsung in a couple of years if it continues in its current trajectory.
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(source)
