Xu Fei, vice president at Xiaomi discusses the Chinese tech giant’s push into the premium smartphone segment overseas.

Beijing

Xiaomi is accelerating its global expansion by launching a range of smart technology products, including smartphones and appliances, in international markets. The company is making its debut in Europe and has plans to extend its reach further worldwide. 

Xiaomi's strategy involves increasing product availability, focusing on premiumization, and establishing a significant retail presence with plans to open 10,000 self-operated stores over five years. Smartphones remain Xiaomi's largest revenue driver, and the company aims to join the '200 million club' in terms of global sales volume, positioning itself to compete with established brands like Samsung and Apple.

Xiaomi expands globally with new smartphones, appliances

We are now bringing more and more products overseas to our global market, right? That's why you could say we have our smart tech appliances here today to the European audience. This is the very first time. I'm so glad I talked to the fans and they love it. We started in China and we expand to Southeast Asia, which is close and easier for us. For now, it's the first time we take them to Europe and the rest of the world in future. So getting more products for the users, I think is the first step. The second one is going premiumization simultaneously. But it's still a little bit behind China because China is a motherland. It's very competitive. We probably just started everything there. If we could survive the competition in China, I think we could survive in the rest of the world. So going premiumization is a very key topic to us all over the world. That's why the European market really matters to us. Because so far we don't have the business in the States, right? So the European market is a market with a large scale of premiumization. So that's why it's very, very important to us. And the third one is we have to bring our stores globally. That's why we're planning in five years to open 10,000 self-operated stores. Because only in this kind of store, users can buy all categories in one place. And they can have the whole experience of the ecosystem. Fei, in smartphones, I know you have a broad product portfolio, but smartphones are still your biggest revenue driver at this point. In that division, you're the third biggest player globally. What are your ambitions? Do you think you can become number one in the world? I think we are trying to get into the 200 million club in future, a couple of years later. We definitely will go there. In terms of revenue or volume? First step, volume. Volume is easier for us and it's the very first step. Because for now, our product structure is like this. We're mainly kind of like strong here, but we are getting premium, right? So we have to solidate the base to make sure we have a large scale of users as our basement. And then we are going premium to kind of like encouraging our users to try our flagship devices so that we could one day maybe compete with Samsung and Apple. You know, those two tech companies, they've been here for so long. They are more mature. They have strong resources and a strong brand. So we show our respect, but we're still trying to grow. So I think the number one in volume is possible. It's not a very big goal because we don't really just target volume. So we are enlarging our volume. At the meantime, we are trying to raise our ASP so that the structure is more healthier. So one day we could go really premiumization in the future.

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