Xiaomi’s Half Year Results Below Target

Chinese smartphone maker, Xiaomi, says that a slowdown in sales in the first half of the year in its domestic market were lower than the previous six months. As a result, the company’s full year sales are expected to miss Xiaomi’s target.

The company sold 34.7 million handsets in the first six months of the year, compared with 35 million from July to December 2014, the first sequential decline since the company began releasing its half year results in 2013. Xiaomi is aiming for minimum sales of 80 million smartphones in 2015.

Analysts suggest that Xiaomi’s first half year performance could be a temporary set back, as the company usually ships more handsets in the second half of the year, when it releases new models.