Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, CEO Lei Jun said on Sunday, speaking at the World Internet Conference in the eastern Chinese town of Wuzhen.<\/p>\n
Lei\u2019s remarks come as the company faces intense competition in its home market from rival Huawei Technologies. Last month Xiaomi launched the Xiaomi Mi 9 Pro, the company\u2019s first 5G-enabled phone for the domestic market.<\/p>\n
According to Lei, demand for the phone exceeded the company\u2019s expectations and led to supply chain issues. The device\u2019s reception has prompted Xiaomi to launch 5G models for the high, middle, and low-end price tiers next year.<\/p>\n
\u201cPeople in the industry fear that next year 4G models won\u2019t sell, this is a step you have no choice but to take,\u201d Lei said. \u201cSo we hope that operators can speed up their expansion of 5G base stations.\u201d<\/p>\n
Xiaomi\u2019s share price has fallen steadily this past year as China\u2019s smartphone market grows more competitive. In September the company announced it would plan a $1.5 billion share buyback.<\/p>\n
In the second quarter of 2019, Xiaomi occupied 11.8% of China\u2019s smartphone market, down from 13.9% one year prior according to research firm Canalys.<\/p>\n
All other top Chinese brands suffered declining sales volumes as consumers flocked to Huawei, driven in part by patriotism. The Shenzhen-based handset maker became the center of U.S.-China tensions in May when Washington effectively called for U.S. companies to cease supplying parts to it.<\/p>\n
However, Xiaomi has enjoyed success in Europe, where it remains a relatively new player in the continent. The company\u2019s market share in the region during the second quarter of 2019 hit 9.6%, up from 6.5% the year prior, making it one of the fastest growing phone brands in the region.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, CEO Lei Jun said on Sunday, speaking at the World Internet Conference in the eastern Chinese town of Wuzhen. Lei\u2019s remarks come as the company faces intense competition in its home market from rival Huawei Technologies. Last month Xiaomi launched […]<\/p>\n","protected":false},"author":4,"featured_media":12657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[50],"tags":[3445,3447,7893,7421,8051,11337,12291,6621,8057,6658,11062,10742,11973,7039,11375,12103,6365,3446,9030,2354,36],"class_list":["post-12656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-5g","tag-canalys","tag-chain","tag-chinese","tag-consumers","tag-demand","tag-domestic-market","tag-europe","tag-fear","tag-huawei","tag-internet","tag-market","tag-one","tag-phone","tag-phones","tag-price","tag-smartphone","tag-smartphones","tag-success","tag-washington","tag-world"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/12656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=12656"}],"version-history":[{"count":0,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/12656\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/12657"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=12656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=12656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=12656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}