Xiaomi lands in Argentina with a Multi-Million dollar Investment
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- personNabin Pradhan
- schedule3 min read
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Xiaomi has just recently confirmed its production of its smartphone in Argentinian market although the official announcement will be made in the next one or two months.
From the confirmation that came the smartphones are expected to start being manufactured in the country by Etercor which has a factory in Tierra del Fuego and has the necessary industrial equipment to manufacture electronics as same as it manufactures for HMD Global products, the official license of the Nokia brand.
The official accompanying president also stated that that the arrival of Xiaomi in Tierra del Fuego is already a fact and in addition he also added talking about a multi-million dollar investments. Many smartphones manufactures are setting up factories in China, India, and other countries but only few of them look towards the South American countries.
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As the first model the company entered the Argentine market was the Redmi Note 10 5G. The smartphone was priced at $750, the first batch shipped to this market included 100,000 units. Also in absence of the main Chinese technological exponent Huawei and LG in retreat left a significant position vacant in the Argentine smartphone market.
The report by the director also stated that the market is extremely concentrated with 90 percent in two brands, the rest do not manage to concentrate a relevant participation for various reasons and therefore the positioning between them is very similar. Definitely Xiaomi will seek to be able to provide a high value alternative for all the people.
Juan Pablo Baiardi of Etercor, a former distributor of Xiaomi products stated that “consumers want alternatives and they see Xiaomi as a brand that can give them what they want. The brand itself appreciates the real potential for growth and development that they have in Argentina.”
