China’s Xiaomi to enter U.S. smartphone market soon

NEW YORK: In the near future, consumers in the US will have a chance to use Xiaomi smartphones, a Chinese homegrown brand.

Xiaomi will launch a new product in the United States, said Xiaomi Vice President Hugo Barra, without giving a specific date.

Founded in 2010, Xiaomi has become one of the world’s most valuable technology start-ups with its rapid expansion of market share not only in China but also overseas especially in India and Brazil in recent years.

According to a survey conducted by Kantar Worldpanel, an international industry survey company, Xiaomi accounted for 18.5 percent of smartphone sales in urban China in the second quarter of this year, surpassing Apple’s 17.9 percent.

Lei Jun, Xiaomi’s founder and CEO, has been listed 22nd on Forbes’ 2016 list of 100 Richest In Tech earlier this month.

In June, the Beijing-based company acquired nearly 1,500 technology patents from Microsoft Corp., a deal reviewed by many observers as a way that puts the smartphone vendor in a better position to compete in Apple’s home turf.

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