Counterfeiters steal 50% of potential revenue from Xiaomi’s new Power Bank battery

The top smartphone maker for China is facing a homegrown problem. Counterfeits. The CEO, Lei Jun said that their product, the Mi Power Bank battery sold half of what was expected. The CEO blamed counterfeits. Is he right in his accusations, or is it something else like bad marketing or just a lack of demand. 

Sales of the company’s Mi Power Bank battery pack for smartphones hit 14.6 million units last year, less than half what the total should have been

What is the biggest problem? There are many fakes,” Lei said. “If there were no counterfeits, our sales would be double or triple. The product has been recognized by everyone.

Perhaps he is not wrong. It is not a lack of demand, but counterfeits. Here is a simple query on Alibaba:

counterfeit mi power bank alibaba
The listings go on and on. Over 3,703 listings were returned. Lei should not be surprised. 6-8% of Chinese GDP is based on counterfeits.

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