Ironically, Xiaomi, considered the king of copycats for copying Apple’s design and marketing is now furious because other companies have started to copy it. Xiaomi’s CEO is mad because there are many fake products out there that are eating away on Xiaomi’s sales.
CEO Lei Jun commented on lower than expected sales of the new Xiaomi Power Bank battery pack – “What is the biggest problem? There are many fakes. If there were no counterfeits, our sales would be double or triple. The product has been recognized by everyone.”
Xiaomi’s sales have already surpassed Apple and Samsung clocking in profits at $45 billion. The company started only back in 2010. Apple should be the one complaining here as Xiaomi expects to report $19 billion in sales this year alone.