Xiaomi, often dubbed China s Apple, has seen meteoric growth over the years especially after expanding to the Indian market. But 2015 wasn t really a landmark year for Xiaomi as its revenues reportedly remained flat. According to a Fortune report, Xiaomi s revenues in 2015 was around 78 billion Yuan, which is $12.5 billion, registering mere three percent growth. In comparison, Xiaomi had seen a whopping 135 percent sales growth in 2014. Also Read - OnePlus Nord CE vs Redmi Note 10 Pro Max: Does 4G still outdo 5G at a lesser price?Also Read - Xiaomi is hiding the front camera on its next Mi flagship smartphone
The report further says that the figures were revealed by Xiaomi public affairs official, Ge Liang, in an interview earlier this week at a technology conference in Beijing. The interview was later published on a few Chinese news sites but was pulled later. Xiaomi, however, has denied giving away any sales figures for 2015. Also Read - Xiaomi 200W fast charging to reduce 20 percent of full battery capacity in 2 years
We have never shared the revenue figure and we are not able to comment on the figure that you shared. What we have shared is we sold over 70 million smartphones in 2015 despite the shrinking of the smartphone market, a Xiaomi spokesperson is quoted as saying.
The Fortune report describes Xiaomi s growth slowdown as a dramatic change for the company. Xiaomi had created a lot of buzz when it revealed 135 percent sales growth in 2014. But the company has remained mysteriously silent about its 2015 figures.
The company has reportedly also fallen short of its target for smartphone sales for 2015. Xiaomi had intended to sell about 100 million units last year, but according to an IDC report, it only managed around 71 million. Moreover, the company s sales slipped by five percent in the first quarter of this year, eventually losing out from top-five global smartphone vendors list. For the last quarter of 2015, Xiaomi stood at fifth spot with a 4.6 percent market share.
Xiaomi s slip in the global market can be primarily attributed to two reasons. First is an underwhelming response to its last year s products. The Mi Note had flopped owing to increasing number of users complaints regarding high temperatures. Another reason is believed to be China s slow smartphone growth, which has also hurt Apple s revenues.
Apple had talked about the smartphone market saturation after recording its revenues had dropped 13 percent in the first quarter. This was the first time Apple saw an year-over-year quarterly sales drop since 2003. This is perhaps why Apple is now looking at the growing Indian market where it has seen an impressive 56 percent growth in the same period.
As far Xiaomi s growth in India goes, the latest IDC report says Xiaomi had seen an increase in market share in the first quarter mainly because of the new product launches, impactful marketing strategies and growing channel presence.