Xiaomi Aims for CNY100 billion in 2017


Xiaomi’s CEO has said that the firm’s target this year is CNY100 billion ($14.5 billion) in 2017, a slower rate of growth as it tries to cope with its fast growth. It believes that changes it made in its organisation in 2016 will pay off in 2017. From 54 Mi Home stores opened in 2016, the company wants to open 200 more in 2017 and get to 1,000 in total over three years. The firm is doing well in India, with more than $1 billion in revenues in 2016. It has also seen internet services revenues double in 2016.

On the other hand, smartphone sales were down from 72 million in 2015 to around 62 million in 2016.

Analyst Comment

The Xiaomi was the only really innovative new phone that I saw at CES. The TVs looked good as well. (BR)