Xiaomi wants to become the first smartphone manufacturer by 2024

Xiaomi held a huge event where it unveiled several new upcoming products, including the Xiaomi 12 smartphone range, MIUI 13, Xiaomi Watch S1 and many more. But these new devices weren’t the only thing revealed in this conference: the CEO and founder of the company, Lei Jun, took the stage to announce Xiaomi’s future plans, declaring that he wanted to become the first smartphone manufacturer three years from now.

Xiaomi wants to become the first smartphone manufacturer

Earlier this year, Xiaomi briefly outdid it Apple in the total volume of global shipments, becoming the second largest smartphone manufacturer in the world for a small time window. Now, Xiaomi’s CEO has announced that the company intends to tackle the global leaders in the industry and become the number one smartphone brand over the next three years.

A similar statement was made in early November by Lu Weibning, Senior VP of Xiaomi Group China and GM of Redmi, who clarified Xiaomi’s goals in the future. Lu Weibing explained that the founder of Xiaomi had just proposed to try to become a market leader by 2024, a will evidently confirmed during the last conference.

To achieve this goal, Xiaomi it will primarily focus on increasing sales in the Chinese market. Given that 70% of smartphone sales in China are through brick-and-mortar stores, Xiaomi plans to increase its brick-and-mortar stores to 30,000 over the next three years. As if that were not enough, the company will begin to produce its own components by itself, a strategy also undertaken by Apple.

Only time will tell if Xiaomi will be able to overcome this self-imposed challenge and reach the goal by becoming the world’s leading smartphone manufacturer in the next three years. The potential is certainly there, the competition in the sector can be extremely fierce.