Chinese manufacturer Xiaomi is targeting shipments of more than 100 million smartphones next year, following a 70% increase quarter-on-quarter, according to the company's founder and CEO Lei Jun.
The Chinese company shipped 23.16 million devices in the second quarter of 2017. The shipment figure was up 70% from the previous quarter, which was also very high compared to previous quarters, Lei said in Beijing.
Xiaomi has reportedly regained greater growth momentum after two years of “adjustments” after the company faced severe production constraints, Lei said. It was the biggest challenge Xiaomi has ever faced since its founding, but product shipments in the previous quarter show that the company’s production capacity is gradually improving, he added.
The company is also developing very ambitious plans to expand its operations both domestically and internationally. In addition to the company's core online sales channels in China, Xiaomi has opened 123 stores in the country so far.
Internationally, revenue from the Indian market grew by 328% in the first half of 2017 compared to the same period last year. The company's market share in India reportedly rose to second place. Indonesia, Russia and Ukraine are also key overseas markets for Xiaomi, according to Lei.
Lei added that the company will hire over 1,000 staff for research and development next year.
Data from research firm IDC showed that Xiaomi shipped a total of 9.3 million devices in China alone in the first quarter of 2017, hitting a market share of 9%. With this percentage, the company deservedly occupies fifth place behind Huawei, Oppo, Vivo and Apple.
