Samsung’s Q4 and full-year earnings guidance looks pretty good all things considered, Apple also pulled through a “boring” 2016, Huawei wants the world to know how well it did this past year, and even Meizu posted small but healthy smartphone shipment growth.
Seeing as how this is now an officially stagnant industry though, some mobile device manufacturers slowed down their “miraculous” progress, including Xiaomi. The so-called “Apple of China” reportedly fell out of the domestic top five OEM list after winning 2015’s silver medal, and with a far from robust international presence, it no doubt lost a big chunk of the over 70 million sales total.
We will never know for sure just how much, as company CEO and co-founder Lei Jun would rather focus on cheerier numbers than a likely disappointing overall 2016 shipment score. For instance, Xiaomi racked up an impressive $1 billion in annual revenue on Indian shores for the first time, which helped it rank among the country’s top three smartphone vendors.
For a “make-up year”, 2016 was good for the “internet services” business as well, with double the previous proceeds, and Xiaomi’s Mi Ecosystem now consists of 50 million connected devices, from Android phones to smart TVs, laptops, set-top boxes, and activity trackers.
Still, there’s no denying the company “pushed ahead too fast in the first few years”, drawing on “some long-term growth”, with a slowdown and product consolidation now needed. Then again, Lei Jun is certain “the worst is over.”