The Business Times

China's Xiaomi aims to double smart home device sales this year to 10b yuan

Published Thu, Apr 28, 2016 · 04:55 AM

[BEIJING] Chinese smartphone maker Xiaomi Inc aims to double sales of smart home technology devices like rice cookers and air purifiers this year, the company's vice president said on Thursday, as it accelerates diversification of business lines to cope with the saturation of smartphones at home and abroad.

Xiaomi expects sales of smart home devices to reach 10 billion yuan (S$2.08 billion) this year, up from 5 billion yuan a year ago, said the company's vice president Liu De, speaking to reporters at the Global Mobile Internet Conference in Beijing.

Mr Liu also said the company, previously known for its online-focus sales model, plans to raise the number of its bricks-and-mortar retail stores in China to 60.

Xiaomi was ranked fifth in global smartphone shipment in the first quarter of 2016, according to research firm TrendForce.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Consumer & Healthcare

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here