Can so imagine any company which gives competition to Apple Inc.? Your answer might be ”No,” but Xiaomi proves itself in the world market and achieve a name called 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 was added to the company profile when Xiaomi announced to start manufacturing phones in Brazil.
The Chinese smartphone manufacturer has agreed with contract manufacturer Foxconn, which runs a manufacturing facility outside of Sao Paulo for making Future Smartphone. Xiaomi, the fifth-highest selling smartphone brand globally, 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 would be released in Brazil next week, carrying a $160 price tag. Barra also revealed that Brazil is “stage one of our Latin America launches,” adding that Mexico and Colombia are next on the company’s radar.
