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Xiaomi CEO looks past selloff to 5G-led China phone revival


While Lei declined to comment on how an economic deceleration might affect his business, he did say 5G will revive not just demand for smartphones, but also the Internet services Xiaomi hosts. — Bloomberg

While Lei declined to comment on how an economic deceleration might affect his business, he did say 5G will revive not just demand for smartphones, but also the Internet services Xiaomi hosts. — 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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