Xiaomi will expand into Brazil and Russia this year but not the US

We reported yesterday that Xiaomi’s upcoming press conference in San Francisco will not be for an announcement of a US expansion, to the dismay of many, but it will be about the company’s expansion. Instead, the burgeoning Chinese smartphone manufacturer will be discussing its plans to expand into Brazil and Russia this year. 

U.S. fans of Xiaomi were ecstatic to hear about a February 12th press conference Xiaomi will hold in San Francisco. This, they hoped, would be the start of Xiaomi’s expansion into the U.S. Coming on the heels of the company’s unveiling of the drool-worthy Xiaomi Mi Note Pro (with 4GB of RAM), it seemed like the perfect time for the red hot Xiaomi to plant its flag in U.S. soil. Furthering this possibility was a report on Friday that Xiaomi was deciding whether or not to go public via an IPO. With a $46 billion valuation, the question for Xiaomi was whether to list in New York or Hong Kong. A U.S. stock exchange listing would seem to go hand-in-hand with an expansion to the states. But a report published on Saturday indicates that a move to the U.S. and Europe is still far away.