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Xiaomi could enter US smartphone market later this year

By Kenny Yeo - on 6 Mar 2018, 8:56am

Xiaomi could enter US smartphone market later this year

Despite not being officially available in the US, Xiaomi still enjoys the recognition of being one of the world's biggest smartphone companies.

However, the Chinese smartphone giant looks set to finally enter the US market.

This is according to Xiaomi CEO Lei Jun, who recently said at China's annual legislative session in Beijing:

We’ve always been considering entering the U.S. market... We plan to start entering the market by end 2018, or by early 2019.”

The report also says that Xiaomi will face serious challenges as it enters the US market. It will compete against the dominance of Apple and Samsung, and it will have to form partnerships with telcos.

Additionally, there has been rising security concerns against Chinese smartphone brands in recent times.

As it expands into the US, it could also be faced with patent lawsuits. To mitigate this, Xiaomi signed a patent deal with Nokia last year.

Finally, Xiaomi is rumored to be planning a Hong Kong IP later this year and hopes to raise around US$10 billion to fund its expansion plans. This means the company would be valued at between US$80 to US$100 billion.

Source: The Wall Street Journal