India, Oct. 21 -- Xiaomi will be one of the first companies to launch 5G phones next year. Speaking at the World Internet Conference in the eastern Chinese town of Wuzhen, Xiaomi CEO Lei Jun has revealed that the company is planning to launch more than 10 5G phones net year. The Chinese company has already launched two 5G phones - the Mi Mix 3 5G and Mi 9 Pro 5G - in the local market this year. According to Lei, the demand for both phones exceeded Xiaomi's expectations and led to supply chain issues. Therefore, it has prompted the company to launch5G models for the high, middle, and low-end price tiers, next year.

Xiaomi's share in the Chinese smartphone market has fallen from 13.9 percent to 11.8 percent over the past year. In reference...