The news comes as the Shanghai Stock Exchange began accepting IPO applications for its new tech board.
The Xiaomi M9 will feature Qualcomm’s latest processor Snapdragon 855 and comes with three cameras in the back.
Chinese companies, including Huawei, Oppo, and Xiaomi, are challenging the dominance of established phone manufacturing giants in overseas markets.
Xiaomi looks eager to accelerate its growth in the premier market, where most of its competitors have the upper hand.
Transsion held 48.7% of Africa’s mobile phone market and 34.3% of its smartphone market in 2018, as well as 6.7% of India’s mobile phone market.
Competition is picking up as the smartphone market slows and companies launch new sub-brands.
Xiaomi shipped 6.9 million units in the third quarter of 2018, well ahead of its competitors.
Xiaomi demanded that Lyft put a halt to using its electric scooters.
Xiaomi has set up 500 Mi Stores in rural parts of the country.
The 10x lossless zoom technology is likely to be integrated into Oppo’s upcoming F19 flagship smartphone.