In an interview with SinaTech yesterday, Lu Weibing, Vice President of Xiaomi Group and general manager of Redmi couldn’t keep a secret of their ultimate plans to dominate the smartphone market this year. Xiaomi earlier this year formed their sub-brand RedMi as part of their ultimate goal to dominate the industry.
Lu Weibing stated that Xiaomi is planning to invest heavily in the Chinese and European markets more this year than compared to previous years. Currently, the most prominent players in Europe include Samsung, Apple, Huawei, and Xiaomi. India is also one of the primary targets of the company with the major four players, including Xiaomi, Vivo, Samsung, and Oppo.
RedMi is majorly focused on consistency with key interest to reduce the cost performance ratio according to Weibing. He even jokingly stated that Xiaomi is proud of making less money, and so “Redmi pricing can’t be profit-oriented.”
The sub-brand hit the market with the Redmi Note 7 first of its device which performed very well shipping a total of 10 million units in 4 months.
- Read >>Xiaomi sold 1 Million Redmi Note 4 smartphones in just 30 days in India
- Read >>Xiaomi Redmi 6A Specs, Price and Availability in Kenya
RedMi, unlike its parent company, Xiaomi, is not eyeing its way into the Chinese market sooner despite their close rivals in the Indian market Oppo and Vivo have already launched their sub-brands in the domestic market. Besides, RedMi has also ventured in the Notebook Industry with the RedMiBook 14 first in its lineup and additionally the company is eyeing entry into the home appliances market with a key focus on IoT and AI.
The company also targets to increase its presence in emerging markets like Africa. Weibing stated that RedMi will be the force behind Xiaomi’s globalization strategy as they eye to dominate more markets. As per now, Xiaomi is ranked first in the Indian market, second in the world’s fourth largest market – Indonesia and fourth in Europe.
However, in a move to expansion, Latin America and Africa are the next targets for Xiaomi’s sub-brand. RedMi plans to enter both East, West, and Central African markets this year. Like in other markets, RedMi will use an online-only strategy which will be characterized by flash sales and great discounts on all their products.
Currently, Weibing RedMi’s General Manager hasn’t mentioned any plans for their entry in the US market. Although Xiaomi early this year had revealed their plans to enter the US, of course, they may be a bit skeptical given what Huawei is facing.
Follow us on Telegram, Twitter, Facebook, Instagram or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates.
