Upstart smartphone maker Xiaomi takes China by storm

This Chinese company is aggressively selling at the lower-end of the market and is set to focus its efforts abroad, too.

@wegotblankets
Published Wed, Jul 2 2014 1:04 PM CDT   |   Updated Tue, Nov 3 2020 12:15 PM CST

Native Chinese smartphone manufacturer Xiaomi has upped its shipments by almost four times compared to the previous year, potentially putting it on track to sail past big hitters like Lenovo and Samsung.

Upstart smartphone maker Xiaomi takes China by storm | TweakTown.com

For the first half of this year, Xiaomi's handset sales hit 26.1 million - an increase of 271 percent compared to the same time last year. Revenues reached 33 billion yuan, or 5.3 billion US dollars, which is still a hefty increase of 149 percent compared to the previous year. Xiaomi only started selling smartphones in 2011, PCWorld reports, but now has its sights set on large foreign markets like Russia and Brazil.

The company is now ahead of Apple in the Chinese market, making it the third largest vendor for the first quarter of this year. Although it began as a niche, high-end vendor, it's continued to expand at a speedy rate, with an aggressive expansion policy to match. Many of the recent sales were down to the affordable Redmi line, which can be bought new for just 113 US dollars.

NEWS SOURCE:pcworld.com

Tamlin Magee is based in London. His name can be found around the web and in print, and he's mostly interested in the ways the rapid rate of technological development is affecting us and our surroundings.

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