Tencent Technology News, January 21 — According to an internal document from Xiaomi, the company plans to significantly increase its sales through physical stores in China this year. The goal is to double the number of smartphones sold in offline stores compared to last year's global offline sales. This shift signals a move away from Xiaomi’s traditional online-centric strategy.
In 2015, under the influence of its online sales model, Xiaomi ranked second among Chinese smartphone manufacturers. Despite being only five years old, the company launched its first mobile phone just three years after its founding. Last year, Xiaomi sold 70 million units, falling short of its global shipment target by 12%. Meanwhile, local competitors like Lenovo and Huawei have also adopted exclusive online sales strategies in China.
China remains the largest smartphone market globally, where most of Xiaomi’s devices are sold. However, for the first time, growth in this market slowed down last year. To counter this, Xiaomi aims to boost sales by expanding its retail presence, increasing the number of physical stores from 50 to 500 this year.
“A lot of people think Xiaomi is trying to expand offline quickly,†said a source familiar with the matter, who requested anonymity. “But the company’s website, mi.com, will still be its core business.â€
Analysts estimate that 40% of Xiaomi’s total global sales in 2015, or around 28 million units, were sold through offline channels. According to internal documents obtained from informants, Xiaomi plans to sell 58 million smartphones through retailers in China this year. These include major partners such as Suning, Gome, and Dickson.
When asked for comment, Xiaomi stated that no official performance targets have been set for 2023. Suning and Gome did not respond immediately to requests for comment, while Dickson’s marketing manager said Xiaomi would become an “important part†of their smartphone sales but declined to provide further details.
Xiaomi, valued at approximately $45 billion, is China’s most valuable tech startup. However, analysts question this valuation due to the company’s failure to meet its 80–100 million unit sales target last year. Consumer preferences are becoming more polarized: some prefer budget-friendly options, while others opt for high-end models from established brands like ZTE. Xiaomi’s product lineup sits between these two extremes, leading to a decline in market share.
Expanding into physical retail could help Xiaomi retain its position, but it may also increase costs. With thin profit margins already, analysts from Canalys warn that this expansion could pose challenges. “Xiaomi must make strategic adjustments,†one analyst said. “Relying solely on online channels isn’t enough to reach certain audiences, such as those living in suburban areas.â€
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