Xiaomi Expects 30% Growth This Year
As we’ve reported before, Xiaomi is truly one of the world’s most valuable startups. The company founded by Lei Jun in 2010 shook the mobile world with its success on their creations, where premium devices have low price tags, making it so popular in its home country. Their expansion towards the South East Asian market led by Hugo Bara was a success as well – this boosts Xiaomi’s global presence and made it rose to fame in no time.
With its recent success of XiaoMi’s Mi Note and with its plan to release another smart TV, it seems that they show no signs of slowing down as of yet. Lei Jun, CEO of Xiaomi, expressed that they are expecting their global sales of smartphones to increase by 30% this year!
Xiaomi’s revenues from their sales this year’s first quarter alone is US$16 billion, an increase from last year’s first quarter US$11.6 billion. It’s reported that they will be expecting sales to go up to US$80 to $100 million mark by end of this year, exceeding last year’s value of US$61.1 million.
In achieving this, Xiaomi will focus their expansion efforts to the second most populated country: India. Not only that, they’ve also included other countries such as Brazil & Russia. To reaffirm their global status and brand, they will expand their product portfolio to be broader, as well as updating their accessories list. Both of which will be sold through the European and US based e-commerce stores.
However, they haven’t got any plans to bring the sensation devices to the Western markets yet. Lei Jun, though, expressed his eagerness on making Xiaomi as the world’s biggest smartphohe maker in the next decade. It’s a big and ambitious goal for now, and we think that they still have a quite a distance to go. The techENT team do think that they could be the fastest growing smartphone ever, and if they go through that path, they may be able to gain a long term advantage.