Xiaomi makes call to depend less on smartphone sales
CHINESE smartphone maker Xiaomi aims to double sales of smart home technology devices like rice cookers and air purifiers this year, its vice-president said yesterday.
The move accelerates its 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 billion) this year, up from five billion yuan a year ago, said vice-president Liu De, speaking to reporters at the Global Mobile Internet Conference in Beijing.
He added that the company, previously known for its online-focus sales model, plans to raise the number of bricks-and-mortar retail stores in China to 60.
Xiaomi was ranked fifth in global smartphone shipments in the first quarter of this year, according to research firm TrendForce.