Chinese budget smartphone manufacturer Xiaomi plans on doubling its 2013 sales over the next year, according to chairman and co-founder Lei Jun.
The firm sold 18.7 million smartphones last year, which was an increase of 160% over 2012, while sales of handsets overall more than doubled to CNY31.6 billion ($5.2 billion). Lei’s somewhat bullish outlook, which he communicated via micro-blogging site Sina Weibo, may not be unrealistic.
Xiaomi’s flagship smartphone, the Mi3, has an unsubsidised RRP of CNY1,999 (around $330). The first shipment of 100,000 of the devices sold out in less than 90 seconds. This demonstrates the demand for cheaper devices in China, where even the cheapest iPhone 5C sells at around $740. By contrast, Xiaomi’s cheapest devices sell at around $130.
The firm is fast gaining traction in China, taking the sixth largest market share in the third quarter last year. This places it just behind Apple. However, it faces competition in the budget arena in the form of two new devices in Huawei’s Honor series.
