Xiaomi smartphone sales up 33%, but reduces target as growth rate slows

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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 … 

CEO Lei Jun acknowledged that sales were slowing in its home market in China, and will need to rely on its international expansion plans to hit its ambitious growth targets. Xiaomi currently sells phones in eight countries – all in Asia – but launches in Brazil next week.

Hugo Barra said last month that the company eventually planned to expand into the U.S. market, but carrier subsidies resulting in low up-front costs meant that its key USP of offering premium handsets at a budget price would be less appealing. The company has launched its Mi Store in the USA and Europe, but only for accessories.