Samsung isn’t the only smartphone vendor able to defy market trends and crush records during a time of general industry stagnation, with Xiaomi (of all companies) also “excited” to announce its “return to fast track growth.”
Now, the creators of the hugely successful low-cost Redmi family were accustomed to rapid growth and expansion until a couple of years ago, when the tide suddenly started to turn. After narrowly missing internal 2015 sales targets, Xiaomi refused to release full 2016 numbers, admitting a strategy “recalibration” was in order.
“Solely focused on product quality” rather than quantity, the company claims to be the first in the global smartphone business to already “resume growth after a decline in sales.” And mind you, we’re not talking marginal volume gains.
Believe it or not, Q2 2017 was the Chinese outfit’s best quarter ever, with a total of 23.16 million intelligent Android handsets shipped worldwide, up an incredible 70 percent from Q1. Apparently, a much stronger offline retail presence crucially contributed to the unique achievement, though it may have also helped that Xiaomi launched fewer devices this year, improving its promotion of existing ones.
Looking ahead, founder and CEO Lei Jun remains largely cautious about setting bold new goals, merely promising Xiaomi’s 13,000 employees will keep true to their “core values, and innovate relentlessly.” A “humble” RMB 100 billion ($14.7B) revenue objective decided at the start of the year for 2017 is still on the table, with 100 million smartphone shipments eyed in 2018.