Xiaomi Ships 23.16 Million Smartphones in Q2 2017, Its Highest Ever Quarterly Shipments
In a letter addressing his employees, Xiaomi CEO Lei Jun has announced that Xiaomi achieved a breakthrough achievement for itself this quarter. The company managed to ship a total of 23.16 Million smartphones in Q2 2017, a 70% increase from the previous quarter. This achievement signifies that Xiaomi is back again on a rapid growth trajectory after two years of internal recalibration, and as Lei Jun claims, Xiaomi is the only smartphone company which has been able to resume growth after a decline in overall sales.
The company’s recovery follows what was a year of setbacks, a year that was claimed to be the most challenging period in the company’s history. Two instances of supply issues ended up hampering the company’s supply chain for several months, resulting in softer sales. As a result of the corrections and improvements that followed, the Q2 2017 results have managed to make the people involved proud.
Part of the success is credited to the explosive growth of the company’s global business after three years of investment. In India, Xiaomi’s revenue for the first half of the year is up by a massive 328% year-on-year. Xiaomi is now the #2 brand in the overall Indian smartphone market, with the Redmi Note 4 becoming the highest shipped smartphone in the entire country. Xiaomi’s position is all the more surprising considering its flagship Mi lineup has not seen much success because of competition from alternatives like OnePlus and Samsung in those price segments. So a very good chunk of their Indian success story hinges on its entry level and budget smartphones, particularly the Redmi and Redmi Note lineup. The Chinese OEM is also seeing success in areas like Indonesia, Ukraine, Russia and other countries.
Xiaomi also credits its recent success as being fruits of labors in areas like R&D and its attempt to diversify retail distribution by increasing its online and offline presence.
Lei Jun is confident that the company can achieve its revenue goal of RMB 100 Billion ($14.68 Billion) for the current year. He has also set a goal for 2018 — to ship 100 Million smartphones.
What are your thoughts on Xiaomi’s recent growth and success? Will the company achieve its current targets? What areas should the company next focus on? Let us know in the comments below!Source: Press Release