From PC World: Chinese smartphone vendor Xiaomi has hopes of selling at least 80 million smartphones this year, but that goal may harder to reach than originally thought.
On Thursday, the fast-rising company announced it had sold 34.7 million smartphones for the first six months of 2015. Although the figure means that sales were up 33 percent year-over-year, Xiaomi still has its work cut out to reach that 80 million number.
Given that Xiaomi sold its first phone only four years ago, the company has made astonishing progress to become one of China’s top smartphone brands. It was even briefly the country’s largest vendor, before falling behind the new market leader, Apple, in this year’s first quarter, according to research firm IDC.
Xiaomi phones have been selling so well, partly because they represent a bargain, and feature high-end specs at low prices. But that might not be enough to generate more sales in China, the company’s home market. Smartphone demand there is weakening, and competition remains intense.
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