Xiaomi expects to sell 100 million phones in 2015

8 Oct

Xiaomi Inc.’s web retail strategy in China has been a huge success that propelled it to be the best-selling smartphone vendor in China. Xiaomi President Lin Bin said during a recent interview with Japan’s NIKKEI that the brand expects to sell over 100 million smartphones in 2015.

Xiaomi sold 26.11 million smartphones in the first half of 2014 with revenue of 33 billion RMB (US$5.37 billion). Lin is confident that shipment of smartphones this year can exceed 60 million units.

When asked if Apple’s and Samsung’s releases of flagship devices had an impact on Xiaomi phones, Lin said Xiaomi’s sales have not been affected and that monthly shipment has reached 6 million units recently. Benefitting from the rising demand, he is optimistic that shipment in Q4 can further increase.

Lin predicted that Xiaomi’s shipments can grow as much as 50 to 100 percent next year, due to increasingly stable supply. He said, however, that Xiaomi currently does not plan to enter the market in Japan as the company has “our hands full” in the markets in China and India.

In addition, the four-year-old brand does not have plans for an initial public offering. Lin said there is no timetable in this regard. It took Alibaba 15 years to finally issue an IPO and Lin said Xiaomi needs just as much time to gain experience for a better internal management and risk control.

(Source: MoneyDJ)

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