Xiaomi is one of the fastest growing tech companies in the world, and the fastest-growing smartphone manufacturer. This Chinese company was founded back in 2010, and it is currently the third largest smartphone OEM in the world, and 1st-placed in their homeland, China. Xiaomi has big plans for this year and intends to improve upon their results last year, which were great by the way, they managed to triple the amount of sold smartphone compared to 2013.
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The company’s founder, Lei Jun, has attended the National People’s Congress in Beijing, and answered some questions regarding his company. “There’s no doubt sales will surpass 100 billion yuan this year, and growth will be more than 50 percent,” said Mr. Jun, hinting at the strong growth in all aspects of the company’s dealings. He has once again said that Xiaomi’s plan is to become the world’s largest smartphone manufacturer within a decade, which is quite optimistic, though it will be interesting to see if Xiaomi can actually achieve it.
Based on IDC’s report from February 17th, this China-based company has grabbed 12.5% of the 421 million smartphone shipments in China last year, which is significantly more compared to a year before (5.3%). Xiaomi intends to expand their business this year on several markets like India and Brazil, and the company even intends to sell some of their products in the US (fitness bands, headphones… not smartphones and tablets though).
According to Lei Jun, Xiaomi expects to raise far more than 100 billion Yuan ($16 billion) in sales this year, which would be significantly more than what they made last year (74.3 billion Yuan). All things considered, Xiaomi certainly has big plans for the future. They’ve already released a bunch of devices this year and it seems like they’re moving closer towards their goal this year. We’re still see plenty of Xiaomi devices until the end of this year and it will be interesting to see if they succeed in their expansion plans. Xiaomi will quite probably open up shop in India in a couple of months, and stop relying on resellers in order to sell smartphones in that Asian country.