Chinese smartphone maker Xiaomi sold 26 million handsets in the first half of 2014, nearly four times as many as they sold in the same period last year. The company is projected to reach sales of 60 million by Christmas.
Xiaomi has only been in business since 2010, and it did not put out a smartphone until 2011. But the company’s founder Li Jun, sometimes referred to as “the Chinese Steve Jobs,” is helping the phone manufacturer attract a young audience that is obsessed with these devices. The company sold seven million phones in 2012, and almost 19 million phones in 2013.
The 26 million phones that Xiaomi sold through June was 30% more than rival HTC sold for the entire year in 2013. HTC was once the biggest maker of Android phones in the world. Xiaomi already outsells Apple in China because it offers affordable phones with great features. The two biggest sellers, RedMI and Mi3, sell for $130 and $330, respectively.
Xiaomi recently recruited senior Google executive Hugo Barra to run its international sales, and as a result, the company announced plans to move into many fast-growing markets around the world. These include India, Thailand, Turkey, Russia, Indonesia, Brazil, Malaysia, and Mexico.
The company is hoping to reach smartphone sales of 150 million in 2015.