Xiaomi Unveils Premium Smartphones, Expands into EVs at MWC
Xiaomi, the Chinese electronics giant, has unveiled its latest premium smartphones at the Mobile World Congress. The company, which has seen its stock price surge by nearly 300% in the past year, is expanding its product portfolio to include connected devices and electric vehicles. The new Xiaomi 15 and 15 Ultra are priced at 999 euros and 1499 euros respectively, as the company aims to strengthen its position in the competitive premium smartphone market.
The new Xiaomi 15 and 15 Ultra boast impressive specifications. Both devices feature the Snapdragon 8 Elite Mobile Platform processor, ensuring top-notch performance. The Xiaomi 15 Ultra, in particular, stands out with an improved camera and a larger display compared to its sibling. Xiaomi's expansion into the premium segment comes at a time when its market share has been on the rise, increasing from 12.5% in 2023 to 13.6% in 2024. The company also recorded a 15.4% increase in global smartphone shipments in 2024.
In addition to smartphones, Xiaomi has set its sights on the electric vehicle market. The company has chosen Munich, Germany as the European city for its expansion in 2024, establishing a research center there to prepare for selling electric cars in Europe starting in 2027. This move is part of Xiaomi's strategy to expand its product portfolio and tap into new revenue streams.
The launch of the Xiaomi 15 and 15 Ultra at the Mobile World Congress signals the company's intent to compete in the premium smartphone segment, dominated by the likes of Samsung, Oppo, and Honor. With its stock market soaring and market share increasing, Xiaomi's expansion into connected devices and electric vehicles is a strategic move to diversify its offerings and solidify its position in the global tech market.
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