Lei Jun

Investors are “beginning to question” Xiaomi’s $46B valuation after the company reportedly failed to hit its sales target of 80M smartphones in 2015, reports the WSJ. That target was itself reduced from 100M last summer, and the company has also not yet delivered on its promise of substantial revenue from Internet services.

Xiaomi has faced tougher competition from more established brands like Huawei.

Huawei’s engineering strength and brand image, built up over decades, make it difficult for Xiaomi to compete in China, analysts say.

“The competition in China’s smartphone market has intensified tremendously this year,” said a Xiaomi spokeswoman, who declined to comment on the company’s valuation or say whether it met its 2015 sales target.

Huawei comfortably overtook Xiaomi to become the Chinese market leader in October of last year …

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[tweet https://twitter.com/xiaomi/status/616414920855257089/]

Xiaomi has announced sales of 34.7M smartphones in the first half of 2015, up 33% year-on-year. While the number is a substantial one, it’s a long way short of the 227% growth it experienced last year, and the company told Re/code that it has reduced its target for the year from 100M to 80M units … 
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Samsung, HTC and Motorola are likely to be looking a little nervously over their shoulders as Chinese smartphone manufacturer Xiaomi more than doubled its year-on-year sales. The company announced (via TNW) that it sold 26.1M phones in the first half of this year, more than it sold in the whole of 2013.

These are impressive sales for a company which sold its first smartphone just three years ago, and whose sales were initially limited to China. Its growth has been fuelled by expansion into Singapore, Malaysia, India and the Philipines, with the company now eyeing up Latin America as its next market … 
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