Xiaomi’s biggest rival is not Apple or Samsung, it is counterfeiters: Bloomberg
In a new revelation, Xiaomi’s CEO Lei Jun has confirmed that besides chief rivals Apple and Samsung, the biggest competition the company faces today is from counterfeiters. Bloomberg reports that fake products are eating into Xiaomi’s sales massively, so much so, that if they didn’t exist the sales figure for Xiaomi’s products would double or triple.
Giving an example, Jun said that the sale of Mi Power Banks was less than half of what it should have been last year. “What is the biggest problem? There are many fakes,” he said. “If there were no counterfeits, our sales would be double or triple. The product has been recognized by everyone.”
http://www.bgr.in/news/xiaomis-biggest-rival-is-not-apple-or-samsung-it-is-counterfeiters-bloomberg/
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