China’s Xiaomi tech company is often compared to Apple. Founded in 2010, Xiaomi has quickly surpassed Samsung to become the top smartphone in China and third in the world. Xiaomi phones are currently only sold online and in China and India.
The company has raised $1 billion from investors, putting its value above Uber, Twitter, and Netflix.
Earlier this year, the company announced it would enter 10 new markets, including Brazil and Russia, but analysts aren’t sure their online-only sales strategy will work.
The company has also been hit with setbacks, including a temporary ban on selling its products in India, the world’s third-largest smartphone market, due to allegations it infringed on Swedish telecom company Ericsson’s patents. A high court eventually allowed Xiaomi to continue selling in India.
“There is a competition issue. Ericsson is not doing very well in handset marketing in the country, and also in the world, and they are trying to make some money out of the patent and they are filing cases here and there to get some revenue out of it,” telecom expert Anil Kumar said.
Xiaomi can now continue to export phones to India as long as they include Qualcomm chipsets and the company pays a $1.57 fee for every device sold. The next court date on the outstanding patent issue is set for January 8.
Tech company Xiaomi flourishes in China, India despite patent disputesChina’s Xiaomi tech company is often compared to Apple. Founded in 2010, Xiaomi has quickly surpassed Samsung to become the top smartphone in China and third in the world. Xiaomi phones are currently only sold online and in China and India.
Ari Zoldan of Quantum Networks discusses Chinese companies, patent troubles
CCTV America’s Sean Callebs interviewed tech industry expert and CEO of Quantum Networks Ari Zoldan about the rise of Xiaomi and it’s legal battles.