Xiaomi CEO Lei Jun speaks during a product launch on May 15, 2014, in Beijing, China. (Photo : Getty Images)
Chinese smartphones maker Xiaomi is preparing to launch 1,000 "experience centers" across the world as it tries to expand its product portfolio and reverse declining sales.
The experience centers will serve as physical stores where buyers get to test Xiaomi's releases. They are targeted to open over the next three to four years.
In a report by China Daily, Xiaomi's founder and CEO Lei Jun said that the company wants to be known as more than just a seller of handsets.
"Xiaomi was never meant to be just a smartphone vendor. Instead, we are aiming to offer consumers a wide range of products at affordable prices," Lei told China Daily.
According to Lei, Xiaomi is eyeing to become "the Muji in tech store," referring to the Japanese retail giant that offers a variety of household and other consumer products.
To achieve this, the Beijing-based company is looking at expanding its portfolio.
"We need about 40 kinds of electronic products to attract consumers to our online shopping platform and offline retail stores," Lei said.
Just recently, Xiaomi launched the Mi Drone, the company's first venture in the UAV market. Other non-handset releases in the past include air purifiers, rice cookers and patch panels.
"When I founded Xiaomi in 2010, I knew clearly that it would take 15 years for Xiaomi to go public, because the company's business model is too complicated and consumers need time to cultivate belief in our products," Lei said.
Xiaomi catapulted to popularity with its quality yet affordable handsets. However, the growing competition from other Chinese brands coupled by a saturating smartphones space impacted the company's sales.
A recent report by market research firm IDC said that Xiaomi is no longer among the five best-selling smartphone brands for the first quarter of 2016, after being displaced by other homegrown brands Oppo and Vivo.
