Xiaomi CEO admits it grew ‘too fast’ after struggles and targets $14.5 billion revenue in 2017
Xiaomi originally found strong growth by selling via online channels and creating hype via social media. But the company admitted that this no longer is the only effective method and therefore has pledged to open more bricks and mortar stores. Lei wrote that that online smartphone market only makes up 20 percent of overall sales. "Xiaomi has great...