After the developing world, China’s smart phone maker xiaomi has been looking to increase business in Europe. For this, they are planning to spend a large portion of the $ 610 million collected from the capital market in the European market.
According to the plan, Shawmy is going to be listed on the Hong Kong Stock Exchange on July 9th. As part of this process, the organization has been issuing 218 million ordinary shares of the primary public offering (IPO). Each share is being sold at 2.4 to 15 decimal US dollars.
Reuters reports that Shawmi’s co-founder and chief executive officer (CEO) Li Jun said in a press conference in Hong Kong last Saturday, “One person asked me whether we will expand the business in developing countries. Last year we entered the European market. From then on we have realized that there is our “MI” fan.
Shawmy will spend in three countries – Spain, Russia and Indonesia – with funding from the capital markets. Focusing on the Chinese market, Shawmi opened their first flagship store or sales center in Paris, the capital of France.
In addition to Europe, the company is planning to come to the market. In this context, Shawmi’s co-founder Wang Chuan said, “We are hopeful of improving the relationship between China and China.”
According to AFP news, the company has signed a contract with Sike Hutchison to enter the UK and European markets. In the last year, after the start of the Spanish market, Shoomi received a positive response. Now Sike Hutchison will be able to sell smartphones in other markets in Europe.
Reports of news agency Reuters reported that Shawmi will open three stores in the UK under the Telecom firm in Sieki Hutchins. Shawmy products will be sold from there. Besides, the Chinese company will sell smartphones in Austria, Denmark, Hong Kong, Ireland, Italy, Sweden, through the three groups stores.
In the past year, Shawmy’s chairman Lei Jun indicated that he would start operations in Europe. She said that Shawmi will come to the US market at the end of 2018 or early 2015. Shawmy is now selling the Android TV set-top box ‘M-TV’ in the United States. But the success of the US market is dependent on law and mobile providers.
In 2010, the journey began with Shawomir. Then, in less than eight years, Shawmy was established as the world’s fastest growing smartphone brand. In the first quarter of this year (January-March), Shoomi has sold 27 million smartphones, which is 88 percent higher than the previous year. Shawmy will spend 30 percent of the money collected from the capital market to raise the quality of service to existing customers in China.