Smartphone sales are said to be dropping. No, we’re not only talking about Samsung but also other OEMs like Xiaomi. The company previously on top of the mobile industry in China has seen some decrease in numbers. However, there’s still good news because according to Xiaomi, its software and smart home devices are doing great so revenue will not be affected. This Chinese startup is relatively young having started only in year 2014 but it has already sold millions of phones. It’s been aggressive the past couple of years and it has since ventured into the smart home arena.
The company certainly has potential with an initial value of $46 billion but it missed its target last 2015 by about twelve percent (12%). This year’s Q3 numbers didn’t help, going down by 45%. That company started by raising funds but now it doesn’t need to do so because revenue is enough as per Hugo Barra, Global VP of Xiaomi.
Barra said the company’s main money-makers are smart home appliances like rice cookers and air and water purifiers. This business alone is expected to improve and double in sales–up to $1.5 billion or 10 billion yuan. He also said that phones don’t really make profits as they are very affordable. Truth is, the company is making money from the phone sales.
Xiaomi has expanded further in India and some countries in Southeast Asia. It’s launching this coming December in the United States. At the CES in Las Vegas, it will be showcasing its latest products and services. Let’s wait and see how the all-new product will change the company’s numbers next year.
VIA: Reuters
