Xiaomi debut in Barcelona MWC

Xiaomi´s first appearance as exhibitor in Barcelona´s Mobile World Congress

This has been Xiaomi´s first appearance at Barcelona´s MWC, and all eyes were on the brand some people compare with Apple in China, backed up with the solid performance they had last year

Xiaomi has had a nice debut in Barcelona this week, Barcelona´s Mobile World Congress is the mobile industry’s most important event ahead of a widely anticipated IPO set for the last months of the year.
It´s not the first time that they really are in Barcelona, as Xiaomi company hosted a smartphone launch two years on the sidelines of the Mobile World Congress (MWC), the difference, this year marks its first appearance as an official exhibitor at the world’s largest gathering for the mobile industry, maybe not the biggest exhibitor, but they really are catching attention.
Xiaomi also opened its first Mi store in Barcelona over the weekend, in Gran Via 2, its third in Spain, as it sought to raise its profile internationally.
IDC’s senior market analyst Tay Xiaohan. was one of Xiaomi members in the show, he said:

“Even though Xiaomi is not releasing any new phones at MWC, it’s a good opportunity to show the world the range of products they have” “Consumers outside China may not be as familiar with Xiaomi’s existing ecosystem and the range or products that they have.”

Xiaomi is not releasing any new phones at MWC, they are going to launch their Mj Mix 2S in foru weeks, but it’s a good opportunity to show the world the range of poducts they have
TAY XIAOHAN, IDC

“Xiaomi’s global sales were solid in 2017, and its performance in China was also good,” Xiaomi’s founder and CEO Lei Jun said on his official Sina Weibo account, citing data from IDC that showed its Chinese shipments surged 57.6 per cent in the Q4 last year despite the country’s 15.7 per cent slump in smartphone shipments.

“As long as Xiaomi continues to produce good products that touch the hearts of consumers and are priced reasonably, it will surely win the hearts of Xiaomi fans and will return to the top sales spot in China,” he said.

Trying to project a more international image that will help Xiaomi attract more global investors for its planned share sale. While the company said it does not comment on listing plans, Xiaomi has appointed investment banks to work on its IPO on the Hong Kong stock exchange, according to a person with knowledge of the matter. Market speculation said that Xiaomi would seek a listing intensified after the company staged a dramatic turnaround following a lacklustre performance in the prior year.
Established in 2010, Xiaomi at one time was the world’s most valuable private start-up, worth more than US$46 billion at the end of 2014. But the rise of other Chinese smartphone brands, including Huawei Technologies, Oppo and Vivo, redefined the smartphone market in China, with vendors offering reasonably priced, high-quality devices promoted by local celebrities. As a result the Xiaomi user base of younger people who favoured cost-effective products was eroded as many of them switched brands.

Xiaomi’s booth at MWC is about 100 square metres in size, bigger than most start-ups but much smaller than tech giants like Samsung and Huawei. The company is showcasing a range of its products, including smartphones, electronic gadgets like earphones and robots, as well as smart TVs. There is also an area for the visitors to try out its electric scooters.

 

Xiaomi lost its sales crown and fell to the fifth place in China in 2016, with its market share also halving to 8.9 per cent from the prior year, according to IDC.

However, the comeback came in the fourth quarter of 2017 when Xiaomi’s annual shipments shot up almost 58 per cent at the expense of Oppo and Vivo, according to IDC data released in February. Amid last year’s unprecedented decline in smartphone shipments in China, Xiaomi bucked the trend by posting the strongest gains among major vendors. Globally, Xiaomi’s shipments surged 74.5 per cent for all of last year.

“2017 has been an extraordinary year for Xiaomi. It was a turnaround year, but more importantly a leapfrog year – a critical year in breaking new ground for our future as we embark on a new journey,” Lei said to employees during a year-end gala in February. At the time, he also set the ambitious goal of retaking the top spot in the domestic market within 10 quarters.

Jupiter Zheng, vice-president of research with Zhongtai International Securities, said it is still unclear whether Xiaomi plans to list its entire business or just certain segments like smartphones.

It is good timing for Xiaomi to list the smartphone business as it has just achieved an impressive rebound.