Live
- BJP releases ‘charge sheet’ against BJD govt
- District Nodal Officer Venkataramana announced the intermediate results
- She team that stopped child marriages
- Medical devices sector needs separate rules, says industry body AiMeD
- Andhra Paper declares lockout
- Opposition INDIA bloc working on 'one year, one PM' formula: PM Modi
- Delhi HC quashes FIR for outraging woman's modesty, orders man to assist Traffic Police for a month as settlement
- 'Apologise to families of farmers who committed suicide in Vidarbha', Amit Shah dares Sharad Pawar
- SC Collegium recommends appointment of a permanent judge in Chhattisgarh HC, extension of term of two judges
- U20 Men's football nationals: Telangana, Sikkim earn full points with easy win
Counterfeit products threat to Xiaomi
Highlights
After overtaking Apple and Samsung in the world\'s largest market, Chinese smartphone maker Xiaomi is now facing the threat posed by counterfeiters.
After overtaking Apple and Samsung in the world's largest market, Chinese smartphone maker Xiaomi is now facing the threat posed by counterfeiters.
.jpg)
Chief Executive Officer Lei Jun said that due to the large number of fakes available in the market, the firm's Mi Power Bank battery pack for smartphones sold 14.6 million units last year, less than half of what the total should have been. He added that if there were no counterfeits, then their sales would have doubled or tripled, reported China Daily.
According to Jun, five years after its foundation in 2010, Xiaomi has already grown into China's top smartphone vendor and the world's most valuable start-up but now, it must tackle "growing pains from counterfeits to perceptions that investments in smart-device start-ups risk compromising strategic focus."
The start-up doubled its revenue last year and more than tripled its smartphone shipments. The company's sales are expected to rise to about 19 billion dollars this year, Jun said.
Next Story
ADVERTISEMENT
