Lei Jun, chief executive officer of Xiaomi Corp., speaks during a Bloomberg Television interview following a product launch for the Redmi Note 7 smartphone in Beijing, China, on Thursday, Jan. 10, 2019. Xiaomi's billionaire co-founder, shrugging off a share slump that’s wiped $6 billion off its market value in just three days, expects the advent of next-generation wireless to energize demand for its smartphones. Photographer: Shawn Koh/Bloomberg
Xiaomi Corp’s billionaire co-founder, shrugging off a share slump that wiped US$6bil (RM24.57bil) off its market value in just three days, expects the advent of next-generation wireless to energise demand for its smartphones.
The Chinese devices maker is now focusing on pushing upmarket while expanding into Europe, forgoing the US, chief executive officer Lei Jun told Bloomberg Television. He didn’t outline his reasons for avoiding the world’s largest economy, once deemed a promising arena for Xiaomi but now increasingly hostile to Chinese corporations.
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