Although Xiaomi didn’t end up anywhere close to the top in 2017, the Beijing company had a fantastic result after the fourth quarter of the year ran out. Having been listed among the top 5 smartphone vendors in the whole world and also top rated in its domestic market; Xiaomi has all the motivation it needs to set an even higher target for itself. Thus, Xiaomi is not planning to lose all that title and attention bestowed on her anytime soon.
To cling to the top, Xiaomi’s CEO, Lei Jun (the steve jobs f Xiaomi) has set an even higher target for the Chinese company.
During the company’s year-end party on Wednesday, Lei took to the stage to announce that Xiaomi aims to regain the top sales position in 10 quarters. To do this efficiently, Xiaomi will not be found missing in any corner of China and will concentrate on provinces, cities as well as counties and villages in China.
2017 was a fruitful year for Xiaomi as the company’s smartphone shipment spiked up from the second quarter and by October; the smartphone company has achieved a total sales revenue target of 100 billion yuan.
Lei’s strong belief that Xiaomi can achieve this goal is backed up by the fact that Xiaomi has the strongest and fastest growth momentum among all the smartphone vendors in China and across the world. According to IDC’s data release, Xiaomi sold 55.1 million smartphone units in China, up 32.6 percent from its sales in 2016. Thus, Xiaomi displayed the strongest growth among the top 5 smartphone vendors in China in 2017.
The Beijing based smartphone vendor hence recorded great results mostly in the 4th quarter of 2017. When it saw its smartphone sales spike up to 57.6 percent year on year, dwarfing Huawei’s 6.5 percent growth momentum from 2016 while the Chinese market witnessed a dramatic contraction in the growth momentum of the other two Chinese brands that made it to the top five, referring to Oppo and Vivo.
Xiaomi ended up last year as the fourth-largest smartphone vendor behind Huawei, Oppo, and Vivo but was the first when it comes to the fastest growing smartphone brand in China.
According to Lei, Xiaomi is on for bigger things, they’ve already invaded 70 international countries and created a name for themselves there and has made it to the top five vendors in 16 technology hungry countries.
Lei Jun also stated during the party that Xiaomi is currently drawing their plans and evaluating new strategies to explore more untapped markets and he also stated that it is only winning out of the domestic market can support the type of growth they are experiencing right now.