Briefing: Xiaomi seeks growth in Europe, to triple stores in 2019

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Xiaomi to triple European store count as Chinese smartphone makers double down on Europe – CNBC

What happened: Xiaomi is accelerating its move in the European market with plans to open more than 150 stores in Western Europe by the end of year. It has nearly 50 shops in the region since opening its first location in Spain in 2017. Wang Xiang, Xiaomi global business head and senior vice president, disclosed its ambitious plan on Tuesday targeting Europe ahead of the US, where carriers play “very important roles” and “a lot of customization ” is needed.

Why its important: Chinese companies are challenging the dominance of established phone manufacturing giants in overseas markets. Nearly a third of phone shipments in Europe came from Chinese handset manufacturers, namely Huawei and Xiaomi, who together represented less than a quarter of the market in the same period a year earlier, according to market analysts Canalys. Oppo, another Chinese phone maker, unveiled plans earlier this month to debut in the UK, Turkey and Poland.