Xiaomi Confronts Counterfeits as Fake Products Eat Into Sales
Xiaomi Corp., the Chinese smartphone vendor that overtook Apple Inc. and Samsung Electronics Co. in the world’s largest market, now faces another foe: counterfeiters.
Sales of the company’s Mi Power Bank battery pack for smartphones hit 14.6 million units last year, less than half what the total should have been, Chief Executive Officer Lei Jun said at a press conference at the company’s headquarters in Beijing Thursday.
“What is the biggest problem? There are many fakes,” Lei said. “If there were no counterfeits, our sales would be double or triple. The product has been recognized by everyone.”
Related Posts
$1 Million for Counterfeit MAC Cosmetic Products Sold
Fake it ’till you make it — or maybe not, if you’re selling counterfeit cosmetics...
Smugglers discovered hiding in a South Shields warehouse with 1.5 MILLION illegal cigarettes
A trio of smugglers discovered hiding in a warehouse have been jailed after being...
Luxury cars, watches seized over alleged USD 650 million Covid-19 fraud
After getting hold of some 600 million Euros in funds from the Italian National...
Tanzania: Counterfeit Goods Hurt Economy – FCC
Tanzania Fair Competition (FCC) has warned dishonest traders to refrain from...