In 2015 Xiaomi announced that it sold more than 70 million Smartphone units. The figure reportedly falls short on its original goal of selling 80 million leaves Xiaomi in shadow of China’s Huawei, in which it sold more than 100 million globally in 2015. Huawei did it by copying Xiaomi’s selling model for one of its brands in China.
Xiaomi’s Smartphone sales growth, reached fever pitch in 2014 at 227%, plummeted mid-teens in 2015.
Lei Jun said that his company book $1 billion for Internet services revenue this 2016. There was no recent statement from Xiaomi on the said goal, but it clearly appears they had missed it. The company is now trying to pivot Smartphone Company to something closer like Apple with its revenue flow from its online services.
Xiaomi runs apps, cloud service, payments, app connecting household devices Xiaomi’s partners sell everything even from air filters up to routers and Segway like devices. Every category was highly competitive in China market, but still hope Xiaomi can move beyond just by phones. Counterpoint’s Neil Shah estimates that Xiaomi’s services sales grown more than twice in its 2014 level around $300 million.