Xiaomi Number 2 in India With 328% Revenue Rise, Sees Record-High Smartphone Shipments
Xiaomi has shipped a total of 23.16 Million smartphones in the second quarter of 2017, creating a record high for the company.
China's Xiaomi Plans $3 Billion CDRs in Blockbuster July IPO: Sources (Image: REUTERS/Stringer)
Xioami has achieved a record high number of quarterly smartphone shipments in the second quarter of 2017. The Chinese smartphone company has reportedly shipped 23.16 Million smartphones in this time period, indicating an increase of 70 percent from the previous quarter. At the company’s smartphone all-hands meeting, the CEO and Founder of Xiaomi– Lei Jun revealed the company’s achievements while also mentioning the efforts it took to achieve these numbers.
Lei Jun forwarded a letter to the Xiaomi employees afterwards, which stated that the company’s continuous investment in Research and Development and the integration of sales across its offline and online retail stores has enabled the smartphone manufacturer to turn around a decline in sales in the past year to a promising growth today. The letter states that Xiaomi had been granted 2,895 patents in the last year, glimpsing at the company’s focus towards innovations and technology. Also, to hint at the Xiaomi’s sales, Lei Jun mentioned that Xiaomi had ranked number 1 in smartphone sales on three e-commerce websites during this year’s ‘618’ online shopping festival in China.
Revealing Xiaomi’s performance in India, the letter mentioned that Xiaomi has gained the Number 2 spot in the overall Indian smartphone market. Even Xiaomi’s revenue has seen a rise of 328 percent year on year as per the letter, with Redmi Note 4 becoming the highest shipped smartphone in India. Lei Jun ends the letter on a positive note, by setting a revenue goal of RMB 100 Billion for the year 2017 and a target to ship 100 Million smartphones in the year 2018.
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