Xiaomi’s Founder and CEO, Lei Jun, has just announced that the company had shipped 23.16 million smartphones in the second quarter of this year. This announcement was made during the company’s meeting today, and such numbers represent a 70 percent increase compared to the previous quarter. It was said that the company has been recalibrating for two years, and is now back on the right path, a path of rapid growth.
During this meeting, Xiaomi discussed many things, and the company’s CEO said that Xiaomi invested quite a bit of funds in R&D in the last couple of years, and that such investments are now bearing fruit for the company. Xiaomi’s CEO mentioned the company’s first mobile processor, the Surge S1, which was launched back in February, while he also said that Xiaomi managed to improve in the camera, screen and battery departments as well. The Xiaomi Mi 6 was also mentioned, and it’s dual camera setup on the back, as well as its impressive front-facing snapper, which is boosted by the company’s software. The company’s CEO also said that Xiaomi applied for 7,071 patents last year, and was granted 2,895 of them, while half of those are international patents.
Lei Jun talked about Xiaomi’s push into retail a while back, as the company realized that being an online only company is not the answer, considering how successful OPPO and Vivo managed to become, and the company’s CEO now reiterated Xiaomi’s goal. He said that being an online company is still the company’s focus, but that focus is now split, as Xiaomi’s retail strategy managed to become quite important as well. Up until now, Xiaomi had opened up 123 Mi Home stores in China, and Lei Jun claims that the response from consumers has been excellent, and that the company will strive to open up more such stores. Mr. Jun also touched on Xiaomi’s business in India for a minute, he said that the company’s revenue in India for the first half of this year is up 328 percent YoY, and that the company is now the second brand overall in the Indian smartphone market. Xiaomi’s CEO also mentioned that the company will add thousands of people to its R&D department in order to ‘further bolster its innovation capabilities’. And last, but not least, Xiaomi has set a revenue goal for 2017, the company is aiming to hit 100 billion Yuan in revenue, which will not be an easy task, but it will be interesting to see whether Xiaomi can achieve this.