TechnoclinicTechnoclinic
  • Home
  • APPS
  • CAMERAS
    • PRINTERS
  • GAMING
    • LAPTOPS
  • HDTV
  • NEWS
  • PHONES
    • TABLETS
  • REVIEWS
  • SOFTWARE
  • Contact Us!
Search
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Xiaomi Targets Sales of $14.5 Billion in 2017 After Business Overhaul
Share
Sign In
Aa
TechnoclinicTechnoclinic
Aa
Search
  • Home
  • APPS
  • CAMERAS
    • PRINTERS
  • GAMING
    • LAPTOPS
  • HDTV
  • NEWS
  • PHONES
    • TABLETS
  • REVIEWS
  • SOFTWARE
  • Contact Us!
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Technoclinic > PHONES > Xiaomi Targets Sales of $14.5 Billion in 2017 After Business Overhaul
PHONES

Xiaomi Targets Sales of $14.5 Billion in 2017 After Business Overhaul

srijita
Last updated: 2017/01/13 at 10:23 AM
srijita
Share
SHARE

Xiaomi Targets Sales of $14.5 Billion in 2017 After Business Overhaul

China’s Xiaomi targets 2017 sales of over CNY 100 billion ($14.47 billion or roughly Rs. 98,471 crores), Chief Executive Lei Jun said on Thursday, after a year that saw the firm fall down the smartphone vendor rankings while it overhauled its business.

“The worst is over,” Lei said at an annual meeting in Beijing, describing 2016 as a “make-up year”.

Seven-year-old Xiaomi was briefly the world’s most valuable startup and had hopes to be China’s equivalent of Apple. But it fell out of the top five in China for smartphone vendors in 2016, after reaching No. 2 in 2015.

Last year saw increased competition from compatriots Huawei, Oppo and Vivo while growth in the global smartphone market stagnated.

In response, privately held Xiaomi said it made adjustments to several business areas, including increasing its offline retail presence and pushing for more overseas business.

Lei did not detail Xiaomi’s financial results but said the smartphone vendor ranked among the top three in India with sales of over $1 billion, and that revenue from its smart hardware ecosystem exceeded CNY 15 billion. He also said online revenue doubled, without elaborating.
For 2017, Xiaomi plans to open 200 more Mi Home stores and a total of 1,000 stores over the next three years to strengthen its offline retail operations, since e-commerce makes up only 20 percent of China’s overall smartphone market, Lei said.

At present, Xiaomi has 54 Mi Home stores, he said.

Developing artificial intelligence and internet finance will also be among 2017 growth strategies, he said. Xiaomi is the second-largest shareholder of Sichuan XW Bank, launched in December.

Lei said Xiaomi has over 300 people working on loans, insurance, securities, finance and payments, as well as securing the necessary licenses.

[“source-ndtv”]

TAGGED: $14.5, 2017, After, Billion, Business, in, of, overhaul, Sales, Targets, Xiaomi

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
srijita January 13, 2017
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article iPhone Sales Grow in US, EU, Japan as Android Smartphone Sales Drop: Kantar
Next Article LG G6 With Waterproofing Abilities, Wireless Charging Teased for MWC 2017 Launch

Latest News

How to Prepare for the Mandatory Windows 11 Upgrade
LAPTOPS
How to Clean Your Flat-Screen TV The Right Way
HDTV
AI and Content Management: How Organizations Can Prepare for the Future
SOFTWARE
What is Application Software: Function and Features of Application
APPS
Case Study: Nissan and Teads’ Immersive Concept Car Campaign Transformed Scrolls into Stories
NEWS
Review of Hootsuite: Advantages, Drawbacks, Features, and Other Options
REVIEWS

Most Viewed Posts

  • Bengaluru Lady Turns Blinkit Conveyance Specialist For A Day And Her Choice Prompted Significant Changes In Application (1,240)
  • Choosing the Right Tablet for Blogging and Writing On the Go (1,159)
  • How to Start a Product Review Blog (Templates & Examples) (1,106)
  • How To Start A Review Blog and Get Free Review Products (1,096)
  • What You Need to Know About Smartphones vs. Tablet use of the Mobile Internet (1,075)

© 2023 TechnoClinic Network. TechnoClinic Company. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?