By Tim Maytom
Chinese smartphone juggernaut Xiaomi continues to grow at a rapid pace, announcing that it sold 34.7m smartphones in the first half of 2015, a 33 per cent increase in sales year-on-year.
Xiaomi is the world’s third largest smartphone manufacturer and is currently valued at $45bn (£28.8bn), having swiftly grown inside its native China before expanding to the rest of Asia. The company’s low-cost, high-quality devices and its innovative, digital-only marketing strategy has been credited with its high-speed expansion.
While 34.7m is an impressive number, and represents substantial growth on last year, it falls short of CEO and co-founder Lei Jun’s estimate that the company would sell 100m smartphones in 2015.
However, the figure may not be entirely beyond the firm’s reach, thanks to its international expansion plans. Earlier this week, the company expanded into Brazil, it’s first market outside Asia, and it is reportedly considering moves into Turkey, Russia and Mexico, as well as other Southeast Asian counties where it does not currently have a presence.
While the company does not currently sell smartphones in Europe or the US, it did recently expand its Mi.com web store, which accounts for 70 per cent of sales, to enable American and European consumers to …read more
Source:: Mobile App News