Xiaomi misses 2015 sales target, sells 70 million smartphones

Xiaomi had estimated total annual sales of 80-100 million units this year. However, Xiaomi has fallen short by 10 millions, as the Chinese smartphone maker announced that it shipped over 70 million handsets in 2015.

That' an annual increase of about 16 percent up from the 61.1 million units sold in 2014, but the growth is nowehere near the 227 percent the company registered in 2014, or 160 percent in 2013.

Despite the missed target, Xiaomi says that the 70 million figure puts the company as the to smartphone manufacturer in China in terms of market share for the year 2015.

One of the reason for the missed target could be that, Xiaomi is facing stiff competition from its Chinese counterparts, Lenovo and Huawei, who are doing well, both at home and abroad in emerging markets such as India and Brazil. While it has also avoided entering U.S and European markets due to strong IP law enforcement in those markets.

Huawei, which has more global sales channel (U.S, Middle East, India, Europe to name a few), has sold more than 100 million smartphones in 2015 up by 44 percent as compared to 2014.

Xiaomi was the world's fifth-largest smartphone maker by shipments in Q1, according to market researchers putting them behind Samsung, Apple, Huawei and Lenovo. A year earlier, it was in third place.

Via