[비즈한국] Xiaomi is smiling thanks to President Lee Jae-myung’s ‘selfie.’ On January 5th, during his state visit to China, President Lee Jae-myung revealed a selfie taken with the Xiaomi phone he received as a gift from Chinese President Xi Jinping. In the photo taken with President Xi and his wife, President Lee stated on social media, "Thanks to this, I got a 'life shot' (the photo of a lifetime)." Seizing the opportunity, Xiaomi began promoting its competitiveness, launching the 'Life Shot' campaign.
Expanding offline stores, but still...
Xiaomi began its full-scale expansion into the domestic market last year. In January of last year, the company established its Korean subsidiary, Xiaomi Korea, and began increasing its number of offline stores. In March of the same year, unlike the entry-level models it had previously offered in Korea, it officially launched the premium ‘Xiaomi 15 Ultra,’ developed in collaboration with Leica. Since then, Xiaomi has aggressively targeted the Korean market. Beginning with the opening of its first offline ‘Xiaomi Store’ at IFC Mall in Yeouido, Seoul, in June, it opened its second and third branches in Magok, Gangseo-gu, and Guui, Gwangjin-gu, respectively. Later, it added branches at Hyundai Department Store Jung-dong and Jamsilsaenae Station. In just one year, it has expanded its domestic store count to six.
During a press conference in the second half of last year, Xiaomi announced plans to establish ‘Exclusive Service Centers.’ The policy aims to provide convenient after-sales (AS) service, which has been cited as a weakness for the company. Johnny Woo, President of Xiaomi Korea, stated on-site, "The reason for opening offline stores is to make it easier and more convenient for (consumers) to visit when they want to check out our products in person," adding, "We will gradually increase the range of AS services provided within our integrated stores."
In September of last year, Korea was included as a first-launch country for the Xiaomi 15T Pro, which features a Leica 5x pro-telephoto camera. At the time, market analysts suggested that Xiaomi had entered the premium market in earnest. Subsequently, Xiaomi launched ‘T-money’ integration for the 15T Pro, enabling T-money payments via Xiaomi smartphones.
However, it remains uncertain how much of a presence Xiaomi will maintain in Korea. According to global market research firm Counterpoint Research, as of the third quarter of last year, the domestic smartphone market share was 81% for Samsung Electronics005930 and 18% for Apple. Companies other than Samsung and Apple did not exceed 1%. Counterpoint Research analyzed, "Although Xiaomi opened additional official stores at Guui Station and Magoknaru Station this September, it remains difficult for the company to exert a significant presence in the market."
'Life Shot' campaign begins
Opportunities have arisen for Xiaomi as its smartphones have been repeatedly mentioned following meetings between President Lee Jae-myung and Chinese President Xi Jinping. At the Gyeongju Summit last November, President Xi gifted President Lee Jae-myung the ‘Xiaomi 15 Ultra,’ the company's first premium phone in the country. The security concerns that had dogged Xiaomi, particularly regarding "backdoors," were neutralized with a touch of humor. At the time, President Lee jokingly asked President Xi, "Is the communication secure?" to which President Xi replied, "Why don't you check to see if there's a backdoor?"
The phone received at that time became a hot topic again when President Lee Jae-myung took it out to take a selfie during his state visit to China on the 5th. Following this, Xiaomi plans to promote the technology of its smartphones, including running the ‘Life Shot’ campaign on its Instagram page starting from the 6th.