Xiaomi’s Lei Jun: We’ll reach 100B Yuan in sales by 2015, 100K Red Rice phones sold in 90 seconds
Xiaomi has become one of the most respected names in the Chinese smartphone space, and all this pretty fast. The company has almost cult status in China, and it’s famous for its method of selling its devices online in batches.
Xiaomi has been known to break a few sales records here and there thanks to this strategy, but we’re not talking overall sales here, but sales within a limited amount of time. For example, it sold 150,000 handsets in 13 minutes last year.
And just a couple of days ago, the company managed to move no less than 100,000 Red Rice units (pictured below) in just 90 seconds. Yes, you read that right. The Red Rice is the most affordable smartphone to come out of Xiaomi so far. It was announced at the end of last month, and it features some impressive specs considering the fact that it costs around $130, unlocked and without a contract attached.
Clearly then, Xiaomi is pretty successful. But its founder, Lei Jun, doesn’t want to stop. By 2015, or at the latest by 2016, the company’s head honcho wants it to reach sales of 100 billion yuan – that’s around $16.3 billion, by the way.
For the first half of 2013, Xiaomi reported sales of 13.27 billion yuan (approximately $2.1 billion), so it’s bound to reach 25-30 billion this year. Coming back to Lei Jun’s intended sales target for the near future, this means that in just a couple of years Xiaomi should effectively triple its sales.
In the first six months of this year, the company sold 7 million phones. It will probably sell many more in the second half of 2013, what with the Red Rice’s release and all.
Xiaomi definitely thinks it’s uniquely positioned to grow its business, since it takes care of the hardware in its devices, but also does the MIUI software layer on top of Android, and it may even dive into services.