Xiaomi is building its "resources" to enter the U.S. market, a top executive at the company has told CNBC.
Last week, Xiaomi signed a deal with Microsoft to explore cooperation in the areas of cloud computing, AI and hardware. When asked if this is a sign the Chinese electronics giant is seriously considering an entry into the U.S. with its smartphones, Wang Xiang, the head of Xiaomi's international business, said the company is always looking closely at the market.
"We always look seriously at the U.S. market. The U.S. market is very important to us but we are very, very carefully building our resources to serve the U.S. consumer," Wang told CNBC in an interview that aired Monday.
The executive explained that the U.S. is a market where people pay for contracts with carriers in order to buy phones, as opposed to purchasing devices outright. As a result, the company needs to do "customizations" to address the marketplace.
Xiaomi doesn't sell its smartphones in the U.S. but does offer a portable charger product in the market.
If the Chinese firm were to enter the U.S., then it would face stiff competition from Samsung and Apple, which dominate the market.