Xiaomi Corp. Exceeds Total 2013 Sales in First Six Months of 2014 in China
Published By : 03 Jul 2014 | Published By : QYRESEARCH
Xiaomi Corp., the Chinese smartphone manufacturer, has said that its shipments have quadrupled in the first six months of 2014. With this, sales in the first half of 2014 have surpassed the total number of smartphones by Xiaomi sold in 2013. The smartphone maker that sells more smartphones than Apple Inc. in China, said that it shipped 26 million units in the first six months of 2014; during the same period last year, it shipped 7.03 million devices. A company spokesperson said that Xiaomi’s total smartphone sales notched 18.7 million in 2013.
Revenue from sales in the first six months of 2013 touched USD 5.3 billion, almost doubling from a year ago. Xiaomi has set an ambitious target of selling 100 million units in 2015, as the company now moves out of its home turf and ventures into 10 new markets including Russia, India, and Brazil.
The closely-held company is valued at USD 10 billion, after it raised funds in August 2013. In the first quarter of 2013, Xiaomi ranked third among the largest smartphone vendors in the world’s second largest economy. From the global standpoint, Xiaomi ranks sixth, says Canalys – a research firm.
China is witnessing an exponential growth in mobile phone users and subscribers, not just in the urban regions, but also in the hinterlands. This potential has had giants like Apple and Samsung chalk out strategies to gain a higher share of the pie here. Xiaomi is aggressively looking at international expansion, for which it hired a former Google employee Huge Barra, who will lead the company’s international expansion plans.