Xiaomi has quickly risen to a position of one the world’s largest smartphone manufacturers and is one of the fastest growing technology companies in the world right now. The corporation shows no signs of slowing down this year, as CEO Lei Jun expects global smartphone sales to increase by more than 30 percent in 2015.
Revenue from sales is expected to exceed 100 billion Yuan ($16 billion) this year, up from the 74.3 billion Yuan ($11.6 billion) that Xiaomi reported for 2014. Sales are anticipated to end up somewhere between the 80 and 100 million mark by the end of 2015, an improvement on last year’s figure of 61.1 million.
Already a major success in China, Xiaomi is focusing its expansion efforts in India this year. Other countries, including Brazil and Russia, are also said to be on the company’s expansion list. Xiaomi also plans to introduce its brand globally through its broader product portfolio and accessories, which will be sold through European and US based e-commerce stores.
Although there are no plans to sell Xiaomi smartphones in Western markets any time soon, Lei reiterated his goal of making Xiaomi the world’s biggest smartphone maker in the next decade. A rather ambitious goal, but targeting the fastest growing smartphone markets to secure a longer term global share is probably the best way to go about it.