At the consumer electronics expo CES in Las Vegas, Xiaomi’s Chief Financial Officer Shou Zi Chew dismissed speculation that the Beijing-based firm could be raising additional funds in response to a challenging year in which Xiaomi has lost smartphone market share to competitors.
“I can categorically say there is no reason to go and raise funding,” Mr. Chew said in an interview on the sidelines of the show. “The company is very robust and we have a very healthy cash balance. […] We need to find the right way that aligns with Xiaomi’s mission to tackle the offline market.” Mr. Chew said. (source: wsj.com)
Xiaomi is now plotting its international expansion.
“This will take time. The U.S. is a very important market for us,” Mr. Chew said.
It is a statement expected by the media. A statement which has already generated enough waves. Some critics rushed and began to talk about patent infringements by the company in China and lack of intellectual forces. Others are wiser and recognize exgerate prices charged by some manufacturers. The truth is that Xiaomi is extremely cautious. Let’s not forget so easily that they have invested heavily in patents in recent years. Entering the US market is very important to them and does not intend to enter the speculator position but a position of trust. They do not want an income quickly. They will secure long-term income.
Since we opened the first marketing book I understood that those working in this area avoid challenges. They do not feel comfortable around people better prepared for them.
We all know that we face a lack of capable people to think a whole. We have employees who perform. Who respect what they say. It is a comfortable and protective attitude. But it is an attitude that form capable employees face some real challenges. And hence the fear. I was talking recently with a friend and told me that Xiaomi will rewrite part of marketing our century. We will see if he was right.