Xiaomi Wants to Be More Like Costco

Xiaomi initially gained international attention with its sleek smartphone designs and flash sales. However, it has since faced challenges from domestic competitors in China. The CEO, Lejeune, is working to redefine Xiaomi's vision by diversifying its product range beyond smartphones, drawing a loose comparison to Costco's model. In India, Xiaomi is focusing on expanding its product offerings and increasing online revenue, despite competition from local brands.

In what ways is Xiaomi trying to shift its business model beyond smartphones?

What are the financial goals Xiaomi hopes to achieve in the near future?