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Lately Xiaomi has seen a rapid slump in the sales of smartphones however they are not worried about the recent downturn in sales. According to the Global VP Hugo Bara, "We could sell 10 Billion smartphones and we wouldn't make a single dime in profits." The reason for this is that Xiaomi devices are mostly loss leaders. Xiaomi is focused less on the profit from hardware and more interested in the recurring revenue streams from their services which you access through their devices. Xiaomi's Vp Liu De mentioned that expected sales of smart home devices to double to $1.5billion this year. Xiaomi is still pushing forward with the release of more and more phones and may even target a phone launch in the US market this year! Hopefully if Xiaomi does decide to serve the US market we won't be left waiting months for the US versions of phones like India has had to do.
via Reuters
