Canalys expressed that Xiaomi is now transforming its business model from challenger to incumbent, with initiatives such as channel partner consolidation and more careful management in the open market. Canalys commented that Xiaomi's new goal is to displace Samsung to become the world’s largest vendor.
In a letter to all employees, Lei Jun, Founder, Chairman and CEO of Xiaomi, pointed out that becoming the World's No. 2 is a key milestone in Xiaomi's history. After five years of self-improvement under extremely difficult conditions, Xiaomi's product capabilities have been enhanced significantly - they paved the way for the premium market segment and increased its market share. Xiaomi will continuously strengthen its core capabilities and cement its place as the second largest smartphone brand.
