CEO of Xiaomi, one of the world’s largest smartphone producers announced their plans to launch 10 new 5g supported phones by the end of 2020. CEO Lei Jun explained while speaking at the World Internet Conference in the eastern Chinese town of Wuzhen. The 5G support will not be limited to high-end phones.
With the US-China trade war, China’s smartphone market has grown competitive. In 2019, Xiomi occupied only 11.8% of the China market as compared to 13.8% earlier. As a result, Xiaomi’s share prices have decreased considerably. 5G launch is a way to conquer the market again.