Sells Xiaomi phones in Japan
Nine numbers that show that the Xiaomi hype is over
The Chinese smartphone manufacturer Xaomi has grown too quickly in too short a time. And now the company has also lost one of its most important executives. Hugo Barra, who was previously responsible for Xiaomi's international business, stated that working in such an “unusual environment” is now taking “a heavy toll” and has an impact on his health. Before joining Xiaomi, the 40-year-old MIT graduate was Vice President responsible for product management for Google's Android, now he's drawn back to Silicon Valley.
In a Facebook post, Xiaomi co-founder Lin Bin said the company regretted seeing Barra leave. But he understands the "personal difficulties" that led to his decision.
The loss of Barras will certainly make itself felt. Lured away from Silicon Valley, he was the company's international face and responsible for its successful expansion outside of China. For a short time Xiaomi was China's largest smartphone retailer, but the market did not stand still. The formerly most hyped startup in the world will have to prepare for a quieter 2017.
$ 3.6 billion
In December 2014, Xiaomi was still worth $ 45 billion. Now an analyst claims that there is now only $ 3.6 billion left of that. The company rejects this figure - no point in contesting it. The high valuation in 2014 only came about because of a financing round of 1.1 billion dollars by the Russian investor and entrepreneur Juri Milner and other investors. The evaluation and the hype that followed have turned out to be more of a burden for Xiaomi, which the company is still suffering from.
$ 100 billion
Back in December 2014, when the Xiaomi bubble was just at its peak, Juri Milner (an early investor in Facebook and Alibaba) said Xiaomi's value could also soar to $ 100 billion. It never did.
Xiaomi has not published any sales figures for 2016. "We have no figures to report at the moment," said a spokesman in early January. For a company that prides itself on staggering sales growth, that's surprising.
In 2014 Xiaomi sold 61 million smartphones. Just a year earlier it was 18.7 million. The growth spurt was remarkable and one reason for the headline-grabbing rating.
In 2015, the company announced that it had sold over 70 million smartphones. Originally, Xiaomi had targeted sales of 100 million units, which were later corrected down to 80 million. In a letter to employees posted on Facebook on January 12, 2017, CEO Lei Jun admitted that he “acted too hastily”. "We need to slow the pace a bit and improve in some areas to ensure sustainable growth for the long-term future," he wrote.
According to market researcher IIDC, smartphone sales in China fell by 40 percent in the second quarter of 2016 - compared to the same period in 2015. However, the overall market in China grew by 4.6 percent over the same period. The competition has benefited. At the time, Xiaomi was fourth behind Huawei, Oppo and Vivo.
On December 9, 2014, the Delhi Supreme Court banned the import and sale of Xiaomi production in India. The suspension was in response to a complaint from Ericsson regarding a number of alleged pantent violations. The products can now be sold again. However, patents are still a problem for Xiaomi. In January 2017 it was announced that the company had registered 16,000 patents, 3,612 of which were granted, 1,767 of which were abroad.
The working conditions at Xiaomi are not exactly good. In March 2016, a spokesman said that Xiaomi was a "nine-nine-six company". This means that employees have to work from nine in the morning to nine in the evening, six days a week. Other reports claim that CEO Lei Jun usually works four hours a day, six days a week.
For its fifth birthday in April 2015, Xiaomi sold 2,112,010 smartphones within 24 hours as part of its “Mi Fan Festival”. In October 2014, 100,000 phones were sold in a flash sale in 4.2 seconds. The company also owed its success to its loyal and sometimes fanatical fans. That loyalty has recently proven fickle.
Despite the crisis in China, the company is still doing very well in India. Compared to the previous year, sales grew by 150 percent. Annual sales passed the one billion mark for the first time in 2016. This makes Xiaomi one of the top three smartphone manufacturers in India.
100 billion yuan
For 2017, Xiaomi has targeted sales of 100 billion yuan, the equivalent of 13.5 billion euros - exactly as much as in 2015.
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