Xiaomi Rep Says Company Won’t Disclose 2016 Sales Figures

A Xiaomi representative revealed this week that the Chinese company will not be making its sales figures from last year public knowledge. The rep made the announcement without giving a reason why.

According to TechCrunch, Xiaomi’s decision comes after a year of disappointing performance in its home country. Last year saw the stunted growth of the company after somehow making it big back a year before. In 2015, Xiaomi sold more than 70 million devices — 10 million short of its 80 million target but still a remarkable feat for the 7-year-old company.

Compared to the previous years, Xiaomi did not see significant growth in China and only managed to maintain its traction in India. From 2012 through 2015, the company’s sales spiked year after year. It sold 61 million in 2014, a big jump from the 18.7 million record in 2013 that was also a huge rise from the 7.2 million in 2012.

CEO Lei Jun confirmed during Xiaomi’s annual meeting this Thursday that 2016 was a bad year for the company when he said “the worst is over” and calling the previous year a “make-up year,” as first reported by Reuters. The slump in sales was very evident after Xiaomi dropped out of the top five smartphone companies in China. In 2015, it was proud to have made it to the second spot.

“In the first few years, we pushed ahead too fast. We created a miracle, but also drew on some long-term growth,” Lei said. “So we have to slow down, further improve in some areas, and ensure sustainable growth for a long-term future.”

To remedy 2016's disappointing performance, Xiaomi is making some changes to many of its business areas. One of which is boosting its offline retail presence. Another is making its presence felt overseas. The company also intends to increase the number of its stores in its home country. It currently has 54 Mi Home stores, so it is planning to put up 200 more this 2017.