After setting a foothold in Indian markets, Xiaomi is now foraying into Brazil. The Chinese telecom maker has announced that it will launch in Brazil on June 30th.
Xiaomi made the announcement via its official MiBrazil Twitter account. The company will initially start with the online sales of its smartphones and accessories in the country. Xaiomi which entered India last year in July has garnered immense popularity in the country thanks to its budget devices. It sold 1 million smartphone in India within the first five months of its entry. The company is selling smartphones in China, Hong Kong, Taiwan, Singapore, India, Malaysia, Philippines and Indonesia. Brazil will be the ninth market where the company will expand. Xiaomi is even touted to manufacture devices in Brazil. It is also expected that Xiaomi will foray in Russia this year.
The company has a great 2014 with 61.1 million smartphones sold and recording a revenue up 135%. Valued at $45 billion after a December 2014 funding round of $1.1 billion, Xiaomi is one of the most valuable company.