Xiaomi lifts curtains from smartphone sales data for the first half of...

Xiaomi lifts curtains from smartphone sales data for the first half of 2015

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Chinese smartphone manufacturer Xiaomi sold 34.7 million smartphones during the first half of this year, the company reported on Wednesday. The figure shows a surge of 33 percent over last year. In spite of a decline in the China market, Xiaomi sales numbers were boosted as the company entered into newer markets including Indonesia and India.

The company’s chief executive officer, Lei Jun previously forecasted that Xiaomi will sell 100 million smartphones in the current fiscal year. The first half sales figure is lagging behind the halfway mark, however the company can still achieve its target as it has added new markets such as Brazil.

Commenting on the recent progress, Lei said in a statement that the company did an amazing job by posting a growth of 33 percent on last year’s figure. He added that Xiaomi produced excellent results and outperformed the market.

Xiaomi is targeting emerging markets with its affordable phones, like the Xiaomi Redmi 2, and the company has so far succeeded in its strategy. The other Chinese brands are following similar trend and offering low-cost cell phones in the emerging markets, while avoiding Europe and the US.

Chinese smartphone maker also makes high-end devices such as Mi 4i and Mi Note that are priced lower than majority of the flagship smartphones. Xiaomi says it can deliver such affordable phones without comprising quality, as it mostly sells direct to customers and cuts out the middle-man. The Beijing-based company said that sales on Mi.com make up roughly 70 percent of its overall smartphone sales that has helped Xiaomi to become the third biggest e-commerce player in China.

Xiaomi faced tough competition from its rivals including Huawei Technologies Co and Lenovo, which are more established firms and are showing that they can fight with Xiaomi on price and features.

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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