The smartphone is approaching US$10 billion is global revenue as business grows in Europe at Huawei's expense
Xiaomi is taking globalization seriously in 2020 by attending the World Economic Forum in Davos for the first time this year. The company said it's targeting India, Southeast Asia, Latin America, Africa and Western Europe.
Xiaomi is already the fourth largest smartphone brand in Western Europe, and the company said its other products are also doing well there. Xiaomi's kick scooters account for 70% of the market in the region's cities while their wearables have become the second-largest brand. Xiaomi sells smartwatches with the help of Huami under the Mi and Amazifit brands, and Ninebot is Xiaomi's electric scooter brand.
Xiaomi has been doubling down on expansion as smartphone rival Huawei is suffering a setback outside China from the US trade ban. The company recently announced a launch in Japan and it's spinning off the low-cost Pocophone brand that's popular in India. With sales slowing in China, company CFO Shou Zi Chew tweeted that the company now sells in 90 countries with overseas revenue nearing US$10 billion.
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