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Xiaomi's move into brick-and-mortar stores has paid off

The Chinese phone maker bounces back with a 70 percent increase in shipments compared with the previous quarter.

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Xiaomi CEO Lei Jun holding up the new Xiaomi Note.

Aloysius Low/CNET

Things are looking up for Xiaomi

The company has just announced a record high of 23.16 million phones shipped in the last quarter, an increase of 70 percent over the previous quarter.

Xiaomi has taken quite a beating from its local competitors such as Oppo, Vivo and Huawei in China, so its shipment record comes as good news for the company. While it has traditionally sold its products through online channels, Xiaomi recently switched tack to go into brick-and-mortal retail shops, and the strategy appears to be paying off.

While Xiaomi declined to provide a breakdown of shipments by country, part of that growth could likely be from markets such as India, where revenue was up by 328 percent year on year, while also claiming the number two spot in the country. New markets like Russia will likely help drive more phone shipments this quarter as well.

"I told everyone at the start of the year that the most difficult times are behind us. I also set a humble revenue goal of RMB 100 billion for the year. I am now confident we can achieve this goal," said Lei Jun, Xiaomi's CEO, in a statement to employees.

Lei also set an ambitious new target for the company to ship 100 million phones in 2018. Hopefully, it will pan out better than the last time he set a similarly ambitious goal.

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