Xiaomi expands into the Philippines after conquering India in push ahead of IPO
Foray into offline store in the Philippines comes as the Beijing-based company topples Samsung as No 1 vendor in India, a key overseas market. This comes after the company opened stores in Vietnam and Thailand.
Chinese smartphone maker Xiaomi opened its first offline store in the Philippines this week, part of its overall strategy to boost international sales ahead of its much-anticipated public share offering.
The launch in downtown Manila on Monday attracted more than 2,000 people, Lei Jun, founder and chief executive of Xiaomi, said in a post on his official Weibo account.
“The fervour Xiaomi has received globally is mainly because we strive to make touching and honestly-priced products,” he said.
The first authorised Mi Store in the Philippines, in partnership with local distributor Grimalkin Corporation, offers a selection of Xiaomi products ranging from its electric kettle and selfie stick to smart wrist band, Mi Notebooks and smartphones, including its recent Note 4 and Mi Max 2 models.
The expansion comes as Chinese smartphone vendors are eyeing emerging Asian markets as future growth engines to make up for sluggish growth at home over the past year. Last month, Xiaomi opened its first offline store in Vietnam, following a similar launch in Thailand late last year. Its rivals Oppo and Vivo have made their presence felt with physical stores and billboards in populous markets like India and Indonesia.
Xiaomi shipped 8.2 million smartphones in India during the fourth quarter of 2017, outstripping its South Korean rival’s 7.3 million units, according to a report published by consultancy Canalys.