When emerging market firms globalize, they will typically start expanding into other emerging markets. A few firms are more audacious though and are trying to crack more developed countries. One example is ZTE which is now the fourth largest smartphone brand in the United States (behind Apple, Samsung, and LG). Likewise, another Chinese brand tried to tap into the North American market by acquiring Palm. However, other Chinese smartphone makers like Xiaomi are focusing on emerging markets. What are the benefits for an EM firm in internationalizing in developed markets instead of emerging ones? What could be possible risks and challenges here?