Xiaomi is having a good start this year and in their H1 2014 update, they have declared to have sold a total of 26.11 million phones between January – June 2014. This marks a 271% increase compared to H1 2013 and they appear to be on track to achieve its stretched goal of 60 million units by end of this year.
Xiaomi is currently one of the fastest growing smart phone brands and this is partly accelerated with its expansion outside China as it entered Singapore, Malaysia and most recently the Philippines. In 2012, Xiaomi had sold 7.19 million phones and they have doubled it to 18.7 million units in 2013. As for revenue, they registered 33 billion Chinese Yuan (about RM17 billion) in H1 2014 which is a 149% increase over the same period last year.
Other smart phone makers should be worrying about Xiaomi’s growth. According to Garner’s total 2013 smart phone sales, Samsung had sold close to 300 million smart phones followed by Apple at 150 million and Huawei at 46.6 million units. To put things in perspective, Xiaomi has sold 15% more phones in the last 6 months than HTC did for the entire 2013. For 2015, Xiaomi is targeting to sell a whopping 100 million units.
In Malaysia, Xiaomi has gotten all segments covered with its Redmi 1S, Redmi Note and Mi 3 smart phones. While they are selling in limited numbers on a weekly basis, their competitive pricing has no doubt caused some disruption in the local mobile scene. Not bad for a 4 year old company with its unique approach of selling direct to its customers.
