Xiaomi announced that it has shipped 23.16 million smartphones in 2017 Q2, clocking a 70 percent growth from the previous quarter. The Chinese manufacturer attributes the success to internal changes made by CEO Lei Jun, and new retail model in place.
The company restructured its retail plan, pushing its offline presence. Xiaomi currently has over 100 Mi Home Stores in China, and is set to open over a dozen more. Xiaomi’s Senior Vice President Wang Xiang earlier outlined that it is important for the company to gain a strong hold on both online and offline presence to be influential in a global market.
“We shipped 23.16 million smartphones in Q2 2017, an increase of 70 percent from the previous quarter, marking a record high for Xiaomi’s quarterly smartphone shipments. This achievement signifies a major inflection point in our growth — after two years of internal recalibration, Xiaomi is once again embarking on a rapid growth trajectory,” Jun said to press.
The spike in Xiaomi smartphones shipments is also attributed to company’s immense popularity in markets like India. The company’s Indian division has reported 328 percent year-on-year growth. This undoubtedly comes from the unprecedented success of Xiaomi Redmi Note 4 smartphone in India this year. Presently, the Redmi Note 4 is the highest-shipped smartphone in the country with Redmi 4, another budget smartphone by the company, also topping charts. ALOS READ: Redmi Note 4 to Mi Max: 5 Xiaomi smartphones to buy in India under Rs 15,000
Xiaomi recently inaugurated its first Mi Home India Outlet earlier this year. The company aims to spread its roots in Indian offline market over the next two year with over 100 Mi Home Stores in pipeline. “Competing for global market share represents the third wave of opportunity that will shape the Chinese smartphone industry. This follows the first wave of urban Chinese smartphone adoption and the second wave of new smartphone users from China’s third and fourth-tier cities. Seizing this opportunity marks the beginning of Xiaomi’s journey as a technology company on the global stage,” said Jun. ALSO READ: Xiaomi Redmi Note 4 becomes the highest selling smartphone in Q1 2017: IDC
Xiaomi also invested heavily in its R&D inventories and made the proprietary Surge S1 SoC official. Announcing the recent numbers, Xiaomi also outlined its goal for revenue is set to $14.7 billion for the year 2017, and it aims to ship 100 million smartphone units in the year 2018.