Xiaomi invests $ 725 million to become a milder factor in the business of smartphones

Xiaomi invests $ 725 million to become a milder factor in the business of smartphones

Xiaomi is a company that has gained popularity with its smartphones, offering an attractive mix of modern design, cutting edge features and affordable price.

The European market is becoming more important for the evolution of Xiaomi’s business, but the Chinese brand is the most popular. The competition among local brands is very serious and the company plans to invest another $ 725 million to expand it in the country.

Xiaomi’s business strategy provides for an amount to be spent on project financing over the next three years. The main emphasis will be on expanding the current distribution network, as well as improving the conditions for compensation programs for business partners and employees.

Investors Xiaomi have already approved the additional costs. Increasing the cost of expanding the sales network will be a key factor for the company.

At present, Xiaomi generates about 12% of sales in the Chinese market, where the dominant factor of Huawei is 34%. Their ambitious goal is to gradually reduce this gap and an investment of $ 725 million should help achieve this.

The updated budget also provides funding for many marketing campaigns across Europe. Rapid software updates and support for the 5G will be two areas in which Xiaomi will focus its attention.

Xiaomi invests $ 725 million to become a milder factor in the business of smartphones