China’s Xiaomi to Launch More Than ten 5G Phones Next Year

Cornelia Mascio
Ottobre 21, 2019

Speaking at the World Internet Conference (via Reuters) in China yesterday, Xiaomi CEO Lei Jun revealed the company is now preparing more than ten 5G-ready smartphones for launch next year. Jun said the company would launch 5G "low-end" midrange smartphones as well as 5G smartphones by 2020. "So we hope that operators can speed up their expansion of 5G base stations", Jun was quoted as saying. The move comes in the wake of stiff competition from the likes of Huawei and strong demand for the Xiaomi Mi 9 Pro 5G in the Chinese market.

According to a report by Reuters, Jun was speaking at the World Internet Conference in China and revealed Xiaomi's plans of launching over 10 5G phones in 2020.

Xiaomi launched the Mi 9 Pro 5G in China in late September. The decision was reportedly influenced by the positive response received for the Xiaomi Mi 9 Pro 5G that was launched in September.

Apart from following up with technology and not being left behind, Xiaomi also believes that the release of a considerable range of 5G smartphone products could also do wonders for its market share in the country.

Xiaomi's share price has fallen steadily this past year as China's smartphone market grows more competitive. In Q2 2019 the Mi company had 11.8% of the domestic market, falling from 13.9% the year before. All the other top Chinese smartphone brands are reporting shrinking sales volumes as consumers patronize Huawei smartphones. The Shenzhen-based handset maker became the centre of US-China tensions in May when Washington effectively called for US companies to cease supplying parts to it.

Xiaomi's Corp stock (1810.HK) has not been great this year, which is probably what prompted the company to consider the aforementioned buyback program.

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