Fast-rising Xiaomi to open online retail stores in US

According to Bloomberg the fast-rising Chinese smartphone company Xiaomi has just disclosed that its online store, Mi.com, will make its debut in the lucrative market the United States very soon and in other markets in the coming months. The company hasn’t disclosed yet which countries will it open its other online stores though.

Surprisingly the upstart company’s e-commerce site will not vend smartphones. Yes, you heard it right. Instead Xiaomi will be selling other products like health bands, power chargers, and headphones.

Xiaomi’s Vice President of International, Hugo Barra, stated in a news conference that was held last February, 2015 that the company “Can bring these products to market much faster because they are simpler to take to market.” Barra added “We intend to launch it here in the U.S. and perhaps a few other markets and see how it goes. Hopefully it will be the beginning of really having America experience the Xiaomi brand and quality and craftsmanship of our products.”

Xiaomi is now the leading smartphone seller on its bulwark China, outperforming smartphone giants Apple and Samsung in the niche. According to ABI Research, Xiaomi has sold 61 million smartphones in 2014 and had shipped 17.1 million smartphones in the last quarter of 2014 which grew to a whopping 227.3% compared with the same period of 2013.

Xiaomi whipped up a fundraising in 2013 that helped improve its value to more than $45 billion and at present it also has over 100 million online users.

Although Xiaomi now boasts of staggering numbers the company quipped that it has no intention of stating an initial public offering “in the foreseeable future.”

Xiaomi had almost grabbed the hefty investment from social network giant Facebook during its $1.1 billion fundraising drive last July 2014 but the deal did not pushed through.

Xiaomi is the company behind the blockbuster smartphones such as the Mi3 and Mi4 phones that are filled with sweeping features and fetched at reasonable prices.

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