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Xiaomi has shipped 70 million smartphones for the first 10 months of this year according to Lei Jun, Xiaomi's founder and CEO. The Chinese budget phone maker, which is looking to ship 100 million handsets this year, achieved a RMB100 billion sales target for this year with revenue of USD 15 billion. Xiaomi today has more than 10,000 employees in mainland China, India, Malaysia, Singapore, Indonesia, Brazil, the Philippines, and South Africa.
With even bolder plans to become a global Fortune 500 firm next year, with revenue exceeding RMB1 trillion within the decade, what does the future hold for this Chinese brand and what might it mean for the competition?
Learn more about Xiaomi's push for physical stores as smartphone sales decline online, Xiaomi's expansion into a wider range of consumer electronics including a smart home IOT device ecosystem, and what the future of consumer electronics in China may look like.