Xiaomi doesn't share 2016 sales numbers after missing last year's target
Historically, the company has a track record of explosive growth in terms of both popularity and sales, particularly during the 2012-2014 period. 2015, however, saw the company increase its sales by just 14.5 percent, as opposed to the more than 200 percent it achieved the year before. This trend appears to have continued in 2016, which isn't particularly surprising, seeing as the global smartphone market hasn't been experiencing much growth lately, while the company's competitors, particularly Vivo and Oppo, have been steadily increasing their market share in China.
For 2017, the company has expressed interest in moving beyond being just a smartphone vendor, with particular focus put on developing artificial intelligence and providing an internet banking platform. The company also plans to open a number of new offline retail locations, claiming it's “not satisfied with just being an e-commerce smartphone brand”. Shaking up its revenue model looks like the right move, as the company has recently stated that its smartphone sales are unprofitable, and as a result it has to rely solely on side ventures, such as its internet services and Mi ecosystem of smart devices. This shift in focus, unfortunately, has resulted in the company's decision not to enter the US smartphone market this year, which is sad news for fans of the futuristic Mi Mix, which is unlikely to get an official stateside release.