Xiaomi, which has become popular among Korean consumers as “the mistake of the continent,” has finally chosen the exclusive distributor in Korea.
The company announced on Feb. 11 that it has signed a contract with CPS Global on Feb. 4 to exclusively sell Xiaomi’s Bluetooth speakers in Korea.
CPS Global is a trading company that has already signed an exclusive sales agreement with XiaoYi, Xiaomi’s ecosystem affiliates company, in Aug. last year. Accordingly, the company imports and distributes Xiaomi’s cameras and accessories in the Korean market. At the end of Feb., CPS Global will also release the XiaoYi smart blackbox.
The latest contract is meaningful in that Xiaomi has pushed into the Korean market for the first time, instead of its ecosystem affiliates. It also means a lot since Xiaomi has officially announced the entry into the Korean market.
According to a distribution industry official, all Xiaomi products, which are currently in circulation in Korea, are parallel imported or traded by e-commerce companies that make overseas direct purchases, except for cameras, which are exclusively imported and distributed by CPS Global.