updated 04:04 pm EDT, Wed July 2, 2014
Chinese manufacturer continues market growth with 26.1 million phones sold
Smartphone and tablet manufacturer Xiaomi announced that it hit a major sales milestone this year. The China-based company announced today that it sold 26.1 million phones in the first half of 2014. A triple-digit increase over the same point as last year, Xiaomi is looking for greater growth by the end of the year as it hopes to gain an even greater market share.
Co-founder and President Bin Lin posted the sales mark on Facebook, while CEO Lei Jun confirmed the numbers on the company's blog. For the first six months of the year, the smartphone company saw a 271 percent growth of phones sold compared to the same period in 2013. Revenue is up 149 percent, which surpasses the annual revenue of 2013. Revenue so far tops $5.3 billion.
"Big thanks to all the Mi fans and business partners," said Lin. "Without you, we wouldn't have achieved so much."
Figures from 2012 place the total number of units sold at 7.19 million devices. Xiaomi said that the number rose to 18.7 million in 2013, but it initially expected 15 million devices to be sold that year. The manufacturer has worked against the odds, as the Chinese Ministry of Industrial and Information Technology says smartphone shipments dropped during the first quarter to a total of 100 million. Year over year, the smartphone industry saw a decrease of 24.7 percent, according to China Internet Watch.
Figures place the company as the third largest manufacturer in China, breaking a ten percent market share. The company trails only behind Samsung and Lenovo. Xiaomi intends to sell 60 million phones by the end of the year. Previously, the company placed the goal at 40 million.