With the amount of success that Xiaomi has witnessed over the past few months, the Chinese company now believes that it can reach the highest rank in terms of sales in the days to come. The company is now expecting to ship 90 million units by the end of this year.
Interestingly, if Xiaomi actually achieves this number then it will be highest for the company. We will know when the reports for the last quarter will be out. But again, just last month, Xiaomi has already shipped more than 10 million smartphones across all the markets globally especially the majority of shipments were made to India. Besides that, DigiTimes has reported that the company is aiming to become the number one brand in its home market China by 2020.
The company has been aggressively expanding its portfolio of products from smartphones to a wide range of consumer electronic goods to extend its reach in various markets. As far as it goes, the company seems to be doing well in India. The company has already claimed that it sold 5 million Redmi Note 4 units in six months from January to July. The numbers have gone up since then. All in all, the company has also stated that it has shipped more than 25 million smartphones in the country since it first entered the market three years ago.
While Xiaomi has been focused on achieving new milestones, the company's strategy of expanding outside of China seems to be running quite smoothly.
That being said, in its home country China, however, Xiaomi might have to compete fiercely to gain a larger share of the market. The company's main competition is likely to be Samsung, Huawei, and few other smartphone makers. It will be interesting to see how Xiaomi will work this out or what new strategies it will come up with.
According to reports, the aggressive pricing strategy that Xiaomi usually implements may help the company to grab market share from its rivals. The company could also ramp up the shipments of its entry-level models such as Redmi, Note 4, Redmi 5A, Redmi 4 amongst others which also feature high price/performance ratios.
Meanwhile, Lei Jun CEO and Founder of Xiaomi has also further set a revenue target of $14.7 billion (100 billion Yuan) for 2017 along with a shipments target of 100 million for 2018.
The chief is of the opinion that since smartphone market is brutally competitive, 'we are only taking the first steps in our journey. In order to continue growing, we must keep true to our core values, and innovate relentlessly. We have to give our engineers the freedom to think outside of the box, and explore fearlessly without boundaries.'
He has further stated, 'We set no limit when it comes to innovation and investment. In the next 12 months, we will need to hire thousands of R&D talent for our smartphone business and further bolster our innovation capabilities.' 'I told everyone at the start of the year that the most difficult times are behind us. I also set a humble revenue goal of RMB 100 billion for the year. I am now confident we can achieve this goal. A new chapter for Xiaomi has just begun, and so many possibilities lie ahead of us. Our future is as vast as the constellations and beyond.'