Smartphone maker Xiaomi has decided to stop disclosing just how many devices it sold on an annual basis, TechCrunch reports, amid the contention by the chief executive officer that the firm has been in what be seen as a transition phase after growing quickly — and, in fact, as the executive termed it, “too fast.”
The root of that decision, said TechCrunch, might trace its genesis to last year, when the firm said that it sold 70 million phones in 2015, but a number that was below the 80 million target for the year, in turn reduced from a target of 100 million phones. The decision to stop the disclosures was confirmed by a rep for the company, said the site, which also noted that some of Xiaomi’s competitive advantages, such as component sourcing and sales done through the Internet, have been pressured. The push toward fast growth may have borrowed a bit from future periods, said TechCrunch, citing a letter to employees penned by CEO Lei Jung.
The executive wrote that “we have to slow down, further improve in some areas and ensure sustainable growth for a long-term future.” The letter also stated that the firm logged $1 billion in annual revenues from India for the first time and that its “Mi Ecosystem” has 50 million connected devices, spanning smart tech in fitness trackers and TVs.
In addition, the company will be branching out into offline sales.
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