Xiaomi unveiled its new flagship smartphone, the Xiaomi 14, at Mobile World Congress in Barcelona, aiming to maintain its recent momentum and compete in the high-end market.
This launch comes amidst a recovery phase for Xiaomi's core smartphone business, which contributes significantly (nearly two-thirds) to its revenue. Despite a challenging overall phone market in 2023, Xiaomi witnessed a slower decline in shipments compared to the previous year, indicating positive signs.
While facing intense competition from established brands like Apple and Samsung, as well as fellow Chinese players, Xiaomi's performance shows signs of improvement.
Beyond smartphones, Xiaomi showcased its ambition for diversification by highlighting its first electric vehicle, the SU7, for the European market. This marks a significant step towards venturing into new product categories.
Furthermore, the company unveiled new wearables including the Smart Band 8 Pro, Xiaomi Watch S3, and Xiaomi Watch 2. This aligns with their strategy of offering a connected ecosystem of devices powered by its own operating system, HyperOS, launched in 2023. This approach mirrors similar strategies employed by industry leaders like Samsung and Apple.
Overall, Xiaomi's MWC showcase indicates their commitment to both maintaining their smartphone presence in the face of competition and exploring new avenues for growth through ventures like electric vehicles and its own operating system.
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