Published on : Jul 02, 2014
Xiaomi Corp., a rising star in the Chinese smartphone market has stated that the shipment of smartphones almost quadrupled in the first half of this year. The smartphone company, which released its first smartphone in 2011, has crossed the total number of devices sold by the company last year.
Xiaomi shipped 26 million smartphones in the year’s first half, as against the 7.03 million devices sold in the same period last year. In 2013, the company sold 18.7 million devices. In the first half of 2014, Xiaomi’s sales doubled to nearly USD 5.3 billion. The valuation of the smartphone maker hit USD 10 billion in August last year, and surpasses Apple Inc. (AAPL) in China in terms of sales. Many in the smartphone market have compared the newbie to the smartphone giant led by Steve Jobs, who died October last year. Xiaomi won its customers over by providing a product similar to Apple but at a cheaper rate. Apple smartphones became the benchmark for cellphone interfaces, taking the wireless industry by storm.
Xiaomi, literally meaning little rice, has its company headquarters in Beijing, China and is one of the country’s biggest electronic companies designing, developing and selling consumer electronics.
The phone company has set a sales target of 100 million units by 2015, and plans to begin sales in 10 new markets, India being one of them.
As per estimates by an independent analyst firm, Xiaomi Corp. was the third-largest vendor in the smartphone category in China, and six-largest across the globe. What sets Xiaomi apart from other smartphones besides its mid-priced strategy, is that it allows its users to help in designing their operating system.