Xiaomi has selected Citic Securities, Morgan Stanley and Goldman Sachs Group as joint bookrunners for its planned Initial Public Offering (IPO). You can read more about this here.
Xiaomi will have the biggest tech float in the world this year. According to official information, the company will be valued at $100 billion. This will help manufacturers to aim higher. Xiaomi is currently fourth in the Chinese market after Huawei, OPPO and VIVO. But more interestingly, Xiaomi's CEO, Xiaomi CEO shared some strategic information. As he said, Xiaomi is considering entering the US market in late 2018 or early 2019.
Xiaomi is currently present in a few emerging markets, such as India and South Asia, but it is looking to further increase its popularity in Europe and has short-term plans to conquer the US market. While it has already opened Mi stores in Spain and Italy in Europe, entering the US market is a tougher nut to crack. There are political reasons and strict regulations in the US smartphone market. That's why Huawei has yet to officially enter the US market.
Xiaomi already sells some products in the US. These models include speakers, sports cameras, smart scales, and more smart products. But not yet smartphones. In the United States, the brand should be introduced to Americans through service providers. Huawei has already tried this, offering the Huawei Mate 10 in the US in partnership with AT&T.
Against the absolute dominance of Apple and Samsung, it will not be easy for the Chinese manufacturer. That is why Xiaomi and all other smartphone manufacturers are pouring a lot of money into research. And this applies not only to money, but also to time. Xiaomi needs to understand more about local laws and regulatory policies, as well as the needs and expectations of local consumers. Xiaomi CEO could not yet provide more information on this. One thing is for sure, they should not make the mistake that Le Eco has made in the last few years.
