As competition in the smartphone market in China increased, Xiaomi ‘s share prices began to fall. The company aims to overcome this trend with its 2020 plans and smartphone models supporting 5G technology .
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Xiaomi’s CEO, Lei Jun , spoke at the World Internet Conference in Wuzhen, the eastern Chinese town last Sunday. Jun, in his speech, especially with another Chinese technology company Huawei drew attention to the intense competition, while in 2020 more than 10 5G-supported smart phones announced that they will launch. 5G support will increase in the middle and upper segment of the devices indicating that Jun, 4G models will continue production, he said.
Particularly behind Xiaomi’s decline in the Chinese market , the country’s citizens are turning to Huawei because of the trade war with the United States and taking a nationalist stance. On the other hand, Xiaomi still performs well in the European market. Because in the first quarter of 2019, Xiaomi’s European market share of 6.5 percent in the previous year reached 9.6 percent , making the company one of the fastest growing phone brands in the region.