Xiaomi ceases publication of annual sales tally as growth flatlines
Chinese smartphone manufacturer Xiaomi has called a halt to its publication of annual sales numbers by keeping its 2016 figures under wraps, a year after it disappointed some by registering sales of ‘over 70m’ in 2015 against a stated target of 80m (itself reduced from 100m).
A coy approach signifies a marked change in tack from a firm which once boasted of breakneck growth, with its chief executive forced to concede that the company was entering a period of transition after growing "too fast."
Xiaomi’s 2016 sales are thought to be broadly flat following years of explosive growth, retaining its position as a market leader in China and holding steady in the important Indian market.
Chief executive Lei Jung wrote: “In the first few years, we pushed ahead too fast. We created a miracle, but also drew on some long-term growth. So we have to slow down, further improve in some areas, and ensure sustainable growth for a long-term future.”
From just 7.2m handsets sold in 2012 Xiaomi grew swiftly, passing 18.7m sales in 2013 and reaching 61m total sales in 2014 but now seems set for a period of less exciting entrenchment.
Xiaomi has previously insisted that its fortunes are not tied to smartphone sales exclusively