Times are going great for Xiaomi, or at least it seems so. Android Central says that the Chinese manufacturer has witnessed a 70% increase in smartphone shipments in Q2 as compared to the first quarter of 2017.
The company has sold 23.16 million units in March-June period, which is quite impressive. Lei Jun, Xiaomi's CEO says that it has the target of earning a revenue of $14.7 billion by the end of this year. Xiaomi's decision to focus more on physical retail stores rather than online ones have proved to be advantageous for the company. It has around 123 Mi Home stores in China alone.
However, some of the large online retailers have helped Xiaomi to grow its sales as well.
Notably, Xiaomi has done exceptionally well in India, which is on of its main target markets. In a country where price plays a huge factor in buying decision, Xiaomi devices are naturally well received.
Each year its revenues are growing at a rate of 328%. This is why the company has recently opened its first physical Mi Home store in Bengaluru. It is even thinking about opening 100 more stores in India in the next couple of years.
As of now, Xiaomi apparently wants to focus only on the Asian market. However, there were some indications that the company may introduce its devices in the North America soon. Most probably in Mexico first, since it is an emerging market.
Whatever the case, Xiaomi is surely giving a tough time to its competitors.