Li Xiaoshuang, general manager of the company, announced on July 24 that both shipments and sales of the Xiaomi TV product line exceeded 4 million units. By doing that, the firm grabbed a market share of 20% and became the industry leader.
Meanwhile, Xiaomi TV has great performance overseas. India, Indonesia, and Russia are among countries with the loftiest sales lately. Xiaomi TV accounts for a 40% market share in the Indian smart TV market, according to IDG monitoring data.
There is more good news for Xiaomi. The company has entered the Fortune Global 500 for the first time with CNY 174.92 billion (USD 25.44 billion) revenue in 2018. It has become the youngest Chinese tech company on the list.
Smart Television is a piece of cake fought over by Chinese tech giants these days. TV market is one of the three strategic zones of this “war for consumers”.
Xiaomi TV, founded in 2013, developed its own remote control system and UI design; nowadays, AIoT became one of the results caused by this fundamental step.
Meanwhile, Huawei put forward a full-scene intelligent life strategy on June 22, 2018, considering the smart TV market entry. Honor, one of the Huawei’s leading brands, announced the new “smart display” product line two weeks ago.
TV market is the next battlefield of the “IoT war” between major Chinese corporations. “Xiaomi ecosystem has become mature due to extensive use of IoT. The latter in many senses protects Xiaomi from its direct market competitors. ” One of Xiaomi TV executives said on 2019 UDE (2019显博会). EqualOcean expects the rivalry in IoT field to get even more fierce in the near future as 5G revolution is just around the corner.