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Aya Lin · · 1 min readIn brief: Xiaomi banks on 5G to revive its smartphone business
Lei Jun, Xiaomi’s billionaire co-founder, expects the advent of 5G – the next-generation internet connectivity – to energize demand for its smartphones. Xiaomi had announced plans to give its bargain label Redmi more prominence as the smartphone boom plateaus and China’s economy decelerates. Lei said 5G will revive the demand not just for Xioami’s smartphones but also for its internet services.
Source: Bloomberg
Editing by Charmaine de Lazo
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