On innovations in the scope of the Internet of Things

LISBON - The personal data of users are protected and their privacy is respected, Wang Xiang, president of Chinese technology company Xiaomi, on Thursday told the Web Summit, a digital event RS485 to TCP/IP converter held online in Portugal.

For European users, "all the data is housed outside of China, in Europe," said Wang at the session Builders, adding that the company meets "all the criteria of the general data protection regulation that is required in Europe.”

Wang Xiang, president of Chinese technology companyXiaomi,noted that Xiaomi now covers 90 markets around the world, including countries in South Asia and Western Europe

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On innovations in the scope of the Internet of Things (IoT), Wang said Xiaomi aims to allow "everyone to enjoy a better life" by providing the market with accessible technological innovation, "regardless of geography, nationality, gender and up to salary."

According to him, the Chinese company has already invested in 120 technological startups in a bid to "improve the product ecosystem," participating in their design of product standards, and helping them to reach suppliers.

"If their product meets our requirements, we will sell it under our brand, through our sales channels. It is a very successful and highly efficient model," he said.

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He noted that Xiaomi now covers 90 markets around the world, including countries in South Asia and Western Europe.

According to market research company International Data Corporation, Xiaomi has already become the world's third largest smartphone brand, serial port ethernet converter surpassing Apple from the United States and taking a market share of 13.1 percent with 46.5 million devices sold.

The Web Summit is considered the biggest event of "digital transformation" in the Western Hemisphere with an estimated audience of 100,000 online this year.