Xiaomi, the world's third-biggest vendor of mobile phones, has opened its biggest Middle East store in Dubai, as it seeks to boost its presence in the region.
The flagship outlet at Dubai Mall, which spans more than 610 square metres, is also its largest store outside of China and India, the Beijing-based company, which opened its first retail store in 2017, said on Thursday.
“Our commitment to making quality technology accessible to everyone is reflected in our Dubai Mall store,” Arjun Batra, country manager of Xiaomi UAE, said.
Xiaomi rose through the ranks of the smartphone market by offering affordable devices with specifications that rival higher-priced models from the world's biggest manufacturers, such as Apple and Samsung.
The company has consistently ranked third in terms of market share and units shipped over the past two years. In the fourth quarter of 2022, Xiaomi accounted for 11 per cent of the global market, according to Counterpoint Research. In that quarter, it shipped 33.2 million devices.
A sales peak of 52.5 million came in the second quarter of 2021, the data showed.
However, the company was not spared from the downturn that the industry experienced last year. Smartphone shipments for the full year 2022 dropped to 1.2 billion units, the lowest since 2013, Counterpoint said.
Chinese smartphone manufacturers — including Xiaomi, Oppo and Vivo — felt the pinch of Beijing's domestic lockdowns that were enforced to temper the spread of Covid-19 for much of the year.
The curbs, considered some of the toughest globally, were in addition to global economic and geopolitical challenges, supply chain issues and a slowdown in consumer demand.
“Despite offering premium phones at aggressive margins, Chinese brands are yet to make headway in the premium market,” Counterpoint said.
“We expect the [global smartphone] market to remain under pressure until the end of the first half of 2023 and to start recovering thereafter.”
Smartphone sales in the Middle East, excluding Turkey, are projected to grow by 6 per cent to about 40.4 million units this year, a report from research firm Canalys found.
The smartphone market in Saudi Arabia, the Arab world's biggest economy, is forecast to expand 9 per cent on the influx of foreign direct investment, while the UAE's market is expected to grow by 6 per cent, on the back of a robust expansion in non-oil industries like real estate, tourism and trade, it said.
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Company%20profile
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
MATCH INFO
Uefa Champions League semi-final, second leg
Real Madrid (2) v Bayern Munich (1)
Where: Santiago Bernabeu, Madrid
When: 10.45pm, Tuesday
Watch Live: beIN Sports HD
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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BlacKkKlansman
Director: Spike Lee
Starring: John David Washington; Adam Driver
Five stars
ENGLAND TEAM
England (15-1)
George Furbank; Jonny May, Manu Tuilagi, Owen Farrell (capt), Elliot Daly; George Ford, Ben Youngs; Tom Curry, Sam Underhill, Courtney Lawes; Charlie Ewels, Maro Itoje; Kyle Sinckler, Jamie George, Joe Marler
Replacements: Luke Cowan-Dickie, Ellis Genge, Will Stuart, George Kruis, Lewis Ludlam, Willi Heinz, Ollie Devoto, Jonathan Joseph
Liverpool’s fixtures until end of 2019
Saturday, November 30, Brighton (h)
Wednesday, December 4, Everton (h)
Saturday, December 7, Bournemouth (a)
Tuesday, December 10, Salzburg (a) CL
Saturday, December 14, Watford (h)
Tuesday, December 17, Aston Villa (a) League Cup
Wednesday, December 18, Club World Cup in Qatar
Saturday, December 21, Club World Cup in Qatar
Thursday, December 26, Leicester (a)
Sunday, December 29, Wolves (h)
