Xiaomi Technology has returned to a growth track and aims to ship over 100 million smartphones in 2018, according to company founder and CEO Lei Jun.

Xiaomi's ambitious goal for 2018 is set based on two factors: The company's smartphone shipments increased 70% sequentially to 23.16 million units in the second quarter of 2017; and the company's smartphone shipments in India soared 328% on year in the first half of 2017, making it the second-largest vendor in the market trailing only Samsung.

Lei attributed the comeback to the company's deepened R&D efforts to innovate smartphones, its enhanced online and offline distribution channels, and its all-out efforts to ramp up exports.

In addition to unveiling its first in-house developed smartphone application processor, the Surge 1, in early 2017, Xiaomi has also reached a number of breakthroughs in the fields of camera modules, displays and batteries, Lei said, adding that Xiaomi filed a total of 7,071 patent applications in 2016, of which 2,895 have been granted.

To enhance its distribution channels, Xiaomi has strengthened its cooperation with online shopping operators T-mall and DJ.com as well as retail chain operator Suning, which has resulted in increased shipments, Lei said.

Xiaomi is also expanding the chain of its own "Mi House" retail stores, with the number of stores already reaching 140, Lei noted.

In addition to seeing its shipments in the India market grow rapidly, Xiaomi currently is also the top vendor in Myanmar and Belarus, and also ranks as third-largest in Indonesia and Ukraine, Lei revealed.

Xiaomi is expected to see its smartphone shipments reach 28 million units in the third quarter of 2017, according to an industry estimate.