The company attributes this success to investment in R&D, foray into offline retail, and growth in global business.
Xiaomi had launched its first in-house chipset in February. The manufacturer had also launched Mi6 and Mi Max 2 earlier this year, with emphasis given to camera and battery technologies respectively. As per the company, these technologically advanced offerings have led to increased shipments.
Xiaomi has realized the importance of offline retail and has begun selling phones through Mi Home stores. This entry into the offline space has helped the company increase its numbers.
As far its global business is concerned, the manufacturer is excited with its growth in India. Xiaomi has recorded a massive 328 percent year-on-year growth in revenue for the first-half of 2017. Redmi Note 4 has become the highest shipped smartphone in India and Xiaomi has become the #2 brand in the Indian market. There are plans to open more Mi Home stores in India; the first Mi Home store was opened earlier this year. The company also claims to be seeing great results in Indonesia, Russia, Ukraine, and other countries.
According to CEO Lei Jun, Xiaomi aims to achieve 100 billion in revenue in 2017. He has also set a goal of 100 million smartphone shipments for 2018.
