Xiaomi said that its Q2 shipment numbers represented a “return to fast-track growth”, after the former star performer appeared to have lost some of its lustre.
The company shifted a record 23.16 million devices during the period, Wang Xiang, SVP, revealed via Twitter.
According to a widely-reported letter from Lei Jun, CEO, the return to growth follows “two years of internal recalibration”. He said that “to date, no other smartphone company had been able to resume growth after a decline in sales”.
A target of CNY100 billion ($14.5 billion) in revenue during 2017 was reiterated, with a new goal of 100 million shipments in 2018 added.
Xiaomi said it benefited from technology innovation, a new sales model, and “explosive” global growth.
With regard to technology innovation, it called out its Surge S1 in-house processor, Mi 6 optical zoom dual camera, and Mi Max 2, with “31-day standby time”. Its online sales have been boosted by a new Mi-com ecommerce platform, while it now has 123 retail stores across China with “industry-leading revenue per square foot”.
Global growth resulted in H1 revenue increasing by 328 per cent in India, with expansion in other markets including Indonesia and Russia.