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2017 saw Xiaomi bounce back from a rather tumultuous 2016, as it clawed back marketshare and delivered a ton of growth globally and in its home of China.
The last quarter saw the brand claim the number one spot in India for smartphone shipments, according to Canalys. Then there was its resurgence back home, joining Huawei in being the only major manufacturers to see growth in China in 2017.
Now, Xiaomi CEO Lei Jun has reflected on 2017, while also outlining plans for 2018. And foreign markets will be a big focus.
“While continuing to focus on technology innovation and quality improvement, we will also put in a lot of effort in our overseas expansion. In 2017, I went to India three times, Indonesia twice and Vietnam once, and I saw huge and exciting opportunities wherever I went,” the executive said.
“We have entered more than 70 markets globally and established a leading position in many of them. But this is just a start. There is still a lot of room for growth in the markets we are present in, and we have yet to enter many more markets around the globe.”
But that doesn’t mean the company is ignoring its home country though.
“In 2018, the Chinese smartphone market is poised to experience a decline for the first time after more than a decade of growth. The market is consolidating while the competition becomes more and more brutal. There is no turning back for us and we have to charge forward,” the executive said, calling the Chinese market the foundation for Xiaomi.
“So this year I am setting a new goal: We will regain the #1 position in China within 10 quarters.”
It’s going to be interesting to see whether Xiaomi can indeed hit the number one spot in its home market, owing to stiff competition from the likes of Huawei, Oppo and Vivo. But it’s seen explosive growth in general since its disappointing 2016, largely due to India and a focus on offline sales back home.