Can so imagine any company which gives competition to Apple Inc., your answer might be ”No” but Xiomi prove itself in world market and achive a name called as China’s Apple. Just three years after selling its first phone, Beijing-based Xiaomi, worth $45 billion, making it the most valuable start-up in the technology sector.
One more milestone added in company profile when Xiomi announced to start manufacturing phones in Brazil.
The Chinese smartphone manufacturer has entered into an agreement with contract manufacturer Foxconn, which runs a manufacturing facility outside of Sao Paulo for making Future Smartphone. Xiaomi, which is the fifth-highest selling smartphone brand in the world, aims to break into the Brazilian market with its novel business model.
“We offer high-quality products at incredibly aggressive prices, so we’re starting with larger developing markets where people are very price-sensitive,” said Xiaomi’s global vice-president, Hugo Barra.
He also announced that the company’s entry-level Redmi 2 smartphone will be released in Brazil next week, carrying a $160 price tag. Barra also revealed that Brazil is “stage one of our Latin America launch,” adding that Mexico and Colombia are next on the company’s radar.