Xiaomi announced on last Thursday a partnership with HK-listed CK Hutchison Holdings Limited to sell its smartphones, home appliances and gadgets in 17,700 stores of the latter company in Hong Kong and six European countries including the UK and Sweden, revealing the Chinese smartphone manufacturer’s ambition to ramp up its presence in the global market which brought in 28% of the company’s total revenue in 2017.
Xiaomi has entered over 70 countries and is doing particularly well in India, outperforming Samsung in Q1 2018 to become the biggest smartphone manufacturer with a 31.1% market share, according to the company’s senior VP WANG Xiang. The Beijing-headquartered company filed on May 3 to list on HKEX, reportedly raising $10 billion and will probably become China’s third-largest tech company by valuation after Alibaba and Tencent.
Source: 36Kr
