Xiaomi, China’s leading smartphone company, revealed on Friday that it has set a more ambitious goal of 80 to 100 million unit sales for 2015.
The smartphone giant announced the target on Friday during the ongoing two sessions through its founder and chief executive officer, Lei Jun. He is also a deputy to the National People's Congress, the country's top legislative body.
In 2014, the company first announced a target of 40 million, but later on raised it to up to 60 million units. According to Lei, Xiaomi sold a total of 61.12 million smartphones in that year, an increase of 227 percent year-on-year.
The firm has set a grand target despite the moderation in its sales growth. However, industry experts say that such target is far from reach.
In an e-mailed note sent by the U.S. market consultancy IDC to the Global Times, China's smartphones shipments would grow by only 7.8 percent year-on-year this 2015.
The statistic is a record-breaker for the country as it is the first time that the growth will only be a single-digit figure since 2009. In 2014, the growth was recorded at 19.9 percent.
On the other hand, the China Mobile Internet Industry Alliance's secretary-general, Li Yi, told the Global Times that the 2015 target of Xiaomi is less realistic, emphasizing the head-to-head competition present in the smartphone market.
Li also pointed out that there is an existing shrink in the demand for smartphones in general.
Furthermore, the recent comeback of the Lenovo-owned Motorola Mobility is regarded as an addition to the intensified rivalry in the industry. In January, Motorola took the wrap off three handsets, a move seen by experts as an ambitious return in the Chinese market.
Yang Yuanqing, Lenovo's Chief Executive Officer, said that the company is eyeing the higher end of the market, signaling a fierce competition against the industry players.
Meanwhile, Li also pointed out that Xiaomi's lack of patent reserves could be a significant hindering factor in the company's global expansion strategies.
However, the Xiaomi CEO said that in 2014, the smartphone giant had applied for 2,600 patents. He disclosed that the firm "might turn out to be a new patent giant in a few years."
In contrast with the slowing growth in the market, China's smatphone companies have ventured on diversification projects such as their entry to the smart wearables and smart home markets.
Lei, moreover, said that Xiaomi has the intention of creating an ecosystem where devices in the smart home industry will be employed.