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
Tripura: BSF foils smuggling attempt, seizes valuables worth over Rs 2.29 crores
Agartala (Tripura) , May 15 (ANI): The Tripura unit of Border Security Force...
Man arrested and ‘counterfeit’ cigarettes seized in Ramsgate.
A 39-year-old man wanted on suspicion of malicious communications was arrested in...
9.5 kg gold smuggled through Kerala airports seized in Bengaluru
Bengaluru: A team of DRI (Directorate of Revenue Intelligence) officials seized...
Foreign brands unite to fight fakes
NEW DELHI: Two weeks ago, lawyers from Tommy Hilfiger, Lacoste, Calvin Klein,...