Xiaomi stops disclosing annual sales figures as CEO admits the company grew too fast – TechCrunch (Jan 12, 2017)

It’s been apparent for some time that Xiaomi’s early stellar rise was not sustainable, and in 2015 it had to revise its guidance for smartphone sales downward and even then missed it by 10 million. Its business is growing though, including hitting $1 billion in sales in India last year, a strengthening retail business, and good growth in “Internet services”, though those still make up a small minority of sales, for all the talk about Xiaomi as a services company. At this point, Xiaomi is far closer in its model to Amazon than to Google or even Apple in its model – a retail and e-commerce company which sells some of its own hardware and also has a growing services business. But it’s been missing its targets and there’s no clarity about profitability yet at this point. Lots more detail in the CEO letter.

via Xiaomi stops disclosing annual sales figures as CEO admits the company grew too fast | TechCrunch

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• Xiaomi

• China
• E-commerce
• Smartphones

• Chinese Expansion
• Hardware is Hard

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