Xiaomi's smartphone sales in the first six months of this year rose more than 270 percent year on year to 26.1 million units, the Beijing-based firm said Wednesday.
The outstanding performance in a fiercely competitive market was driven by extensive marketing and aggressive pricing of products such as the Xiaomi 3 and RedMi, industry insiders said.
Sales in the first half surpassed the company's 2013 full-year figure of 18.7 million units, said Lei Jun, its founder and chairman.
Revenue in the first six months also soared, by 149 percent year on year to 33 billion yuan (US$5.3 billion), he said.
Xiaomi said in a statement yesterday that its 2014 full-year target is 60 million handsets, while Lei said earlier that he expects sales in 2015 to surpass 100 million.
As an online-only retailer, Xiaomi's top-end phones sell for about 2,000 yuan, which is a fraction of the price of an equivalent model from Apple or Samsung.
Sales of smartphones in China in the first quarter rose 22 percent year on year to 110.5 million units.
The market leader was Samsung with 17.8 percent, followed by Lenovo (11.4 percent), Coolpad (9.6 percent) and Huawei (8.8 percent). Xiaomi ranked fifth with 8.3 percent, ahead of Apple with 6 percent, Beijing-based research firm Analysys International said.
In May, Xiaomi launched a tablet computer on the domestic market, with which it hopes to challenge the dominance of the Apple iPad.