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China's Xiaomi to Start Small in U.S., With Earphones and Bands

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vidsoo
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Published on 18 Jul 2019 / In News & Politics

Xiaomi, China's largest smartphone company, will begin selling headphones, smart wristbands and other accessories online in the United States in coming months, taking its first tentative step onto Apple Inc's home turf without its signature Mi mobile devices. The company also said it is close to securing a manufacturing partner in Brazil, which will help it skirt punishing tariffs on imported electronics when it begins sales in Latin America's largest economy in the first half of this year. Xiaomi, a five-year-old upstart whose name means "Little Rice," came out of nowhere to become China's fastest-selling mobile brand. It has been rapidly expanding its global footprint through direct, online sales. The company was valued at $45 billion in a December funding round that drew investors ranging from Singapore's sovereign wealth fund to a private capital firm backed by Alibaba Group Holding Ltd co-founder Jack Ma.

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