Xiaomi Reveals Respectable Shipment Numbers for 1Q14, Outlines Future Goals

1 Apr

Chinese smartphone maker Xiaomi on Monday discussed its impressive Q1 performance at the China IT Leadership Summit (2014), showing again why it deserves to be taken seriously in the mobile device market and treated as a potential global contender by existing tech giants.

Some noteworthy points…

*The company announced that it managed to ship 11 million smartphone units in the first quarter of 2014 alone, which is close to the 18.7 million total it sold throughout 2013. For the entire 2014, Xiaomi CEO Lei Jun says he’s eyeing for a total of 60 million shipments, up from his previous target of 40 million;

*Lei expects shipments in 2015 to surge to as many as 100 million units as the company continues its existing global expansion efforts. Some of the future markets that the company is looking into include India, Malaysia, Latin America, and Europe;

*In 1Q14, Xiaomi’s total revenues grew by an impressive 150% compared to the same quarter in 2013; For the rest of the year, Lei is confident that the company’s revenues will eventually hit 70 billion RMB, which is around $US 11.2 billion;