Chinese smartphone manufacturer Xiaomi is planning to use some of the proceeds from its $6 billion share offering to fund expansion in Europe.

 

中国智能手机生产商小米计划利用其发行股票所得的60亿美元收入的一部分来扩大在欧洲的市场。

 

That's according to statements made by Lei Jun, Xiaomi's co-founder, on Saturday.

 

Lei Jun was speaking at a press conference to discuss the offering, at which it was revealed that key target markets for the company are Spain and France.

 

Despite being the world's fourth largest mobile phone manufacturer, Xiaomi has maintained only a very small presence in the European market to date, having launched operations in Spain late last year.

 

It's subsequently launched full-scale sales in France - where it has opened a Mi store and also offers products online.

 

Xiaomi has also joined forces with the major networks in the country, including Bouygues and Orange - a move which should give a healthy boost to sales.

 

The European ambitions of the company don't stop in France and Spain – where in the latter country, in the space of just a few months, it has become the third most successful manufacturer.

 

It's also planning a similar strategy in Italy, which could then be rolled-out in other countries if it proves to be a success.