According to latest earnings in the second quarter of the year, Xiaomi has many reasons to be happy. The company's CEO Lei Jun announced the second quarter was its most successful quarter with 23.16 million smartphones sold across the globe.

He also added that the amount of sold phones is 70% more than it was in the previous three-month period and that this was due to several factors including innovations in R&D segment, upgrading to new retail model, and investment in global business.

The company is aiming to reach revenue of CNY100 billion by the end of 2017 and ship 100 million smartphones in 2018.