Today, on February 7, Xiaomi held the 2018 annual meeting. And though many statistics presented at the event were familiar to us, we also learned about Xiaomi’s new goals. It turns out Xiaomi has no intent to keep what it achieved in 2017. As Xiaomi CEO, Lei Jun said, they are putting another goal of returning the first position in China in 10 quarters. Thus in 2020, Xiaomi should get back its former popularity becoming the number one brand in the domestic market.
Xiaomi should work hard in coming two years to reach its target. It even should be way better than 2017. As you remember, in October the company had already shipped 70 million smartphones for the first 10 months of this year, completing its shipment target for 2017. Not accidentally, Lei Jun said they are planning to become a top 500 enterprise in the world in 2018. Plus, he expects Xiaomi’s revenue to exceed 1 trillion yuan in a decade. This is quite possible, because Apple spen? 20 years, Facebook spent 12 years, Google spent 9 years, Ali spent 17 years, Tencent spent 17 years, and Huawei spent 21 years, while Xiaomi spent only 7 years to reach this goal.
Since the Q2, 2017 Xiaomi’s shipments started to increase significantly, and their market share has returned to the top five in the world. Moreover, IDC report showed Xiaomi is the fourth in the world in the Q4, 2017. Despite the 6.3% of the overall market decline, Xiaomi could provide a market growth rate of 96.9%.
This simply means Xiaomi has become a more recognizable brand in eyes of customers. But it’s been done not by itself. Xiaomi is known in 73 countries and regions. India is the number one market for the manufacturer after the domestic market. But there are other countries making this brand too popular.