In collaboration with local operators, Xiaomi began selling mobile phones in Western Europe.

category:Internet
 In collaboration with local operators, Xiaomi began selling mobile phones in Western Europe.


Photo shows: Xiaomi shows its mobile phone at a press conference and announces cooperation with BT operator Three. NetEase news on May 4th, according to foreign media reports, Chinas smartphone maker millet will cooperate with Three, a British Telecom service operator, to sell its smartphone in the UK. As Chinas apple company, Xiaomi is turning its attention to the western market and will raise $10 billion through the Hong Kong Stock Exchange listing. When millet sold smartphones in the UK, the company announced that it was listed on the Hongkong stock exchange, seeking to raise at least $10 billion, probably the largest IPO since the Chinese e-commerce group Alibaba was listed in New York in 2014. Millet, the worlds fourth largest smartphone maker, is often known for selling high-end mobile phones at low prices, but Millets smartphone business is limited to developing countries such as China and India. Last November, millet smartphones first appeared in Spain. Cooperation with Three enables millet smartphones to be sold in Three stores in the UK, Ireland, Austria, Denmark and Sweden. We have been paying attention to the success of millet and are very impressed with the large number of Internet devices they are currently offering, said Thom Mallerschitz, chief digital officer of Three UK, TomMalleschitz. Malsky also added that Three will open the door to other Internet devices such as smart home appliances. The $10 billion financing that millet gets on the market will make the companys valuation up to $100 billion, the third largest Chinese technology company following Tencent and Alibaba. According to IDC, a market research firm, millet is currently the best selling smartphone brand in India before Samsung. In the first quarter of 2018, millet was the fourth largest mobile phone brand in the world, behind Samsung, apple and HUAWEI. Last year, however, the company lost a loss of up to $6 billion 900 million. The 8 year old technology company was first established in China, and often sells apple like devices at half the price of iPhone. This also makes millet smartphone business received patent infringement, indirectly affecting millet business in the western market. Xiaomi describes himself as an Triathlon athlete of Chinese technology companies. Most of its revenue comes from smartphone sales, but its profit margins are low; the rest of the companys revenue comes from selling smart home appliances - millet electric cookers, scooters or air conditioners - and Internet services such as entertainment and financial services. In an open letter submitted, Lei Jun, the 48 year old founder of millet, admitted that the company was in trouble in 2016. At that time, the sales of Xiaomi smartphones dropped and sales declined due to the introduction of cheaper models by competitors. The thunder army wrote, we know this very well. Because we developed too fast in the early years, we did not have enough strong foundation to face all the challenges at that time. The company also invested in companies related to lifestyle and Internet of things products and asked their co founders to withdraw from the company so that the company could take over the supply chain manager. According to the documents submitted, between 2015 and 2017, the sales of smart appliances increased by 70% to 114 billion 600 million yuan (US $17 billion 900 million). At present, most of the revenue of millet still depends on the Chinese market. Considering that the market is nearly saturated, this is a challenge for millet. In the first quarter of this year, shipments of smartphones fell to less than 100 million for the first time in five years. Millet smartphones are popular with consumers who first buy mobile phones, but users usually choose apple iPhone or other phones when upgrading their smartphones. (Han Bing) source: NetEase science and technology report editor: Wang Fengzhi _NT2541 The company also invested in companies related to lifestyle and Internet of things products and asked their co founders to withdraw from the company so that the company could take over the supply chain manager. According to the documents submitted, between 2015 and 2017, the sales of smart appliances increased by 70% to 114 billion 600 million yuan (US $17 billion 900 million). At present, most of the revenue of millet still depends on the Chinese market. Considering that the market is nearly saturated, this is a challenge for millet. In the first quarter of this year, shipments of smartphones fell to less than 100 million for the first time in five years. Millet smartphones are popular with consumers who first buy mobile phones, but users usually choose apple iPhone or other phones when upgrading their smartphones. (Han ice)