Xiaomi aims to gain top position in China

Electronics and software company Xiaomi aims to regain the number one position in China within 10 quarters.

The company, which is setting a new target for 2018, plans to expand around the world, and stage a comeback in China.

In a letter written to its employees, Xiaomi Chairman CEO & founder, Lei Jun explained the company's success and further laid out the firm's ambitious plans.

"On the domestic front, we have to start a full counter-attack and accumulate small successes into a full victory, sparing no effort to ensure that we have the ultimate victory in 2019," he mentioned in the letter.

Jun also believes that the Chinese smartphone market is poised to experience a decline. In this scenario, Jun believes that there is no turning back for Xiaomi and urges his employees to charge forward.

"The Chinese market is Xiaomi's foundation. It is the biggest consumer electronics market in the world and the most competitive one. Only by winning in the domestic market can we have enough support for global expansion. Only by winning in China, can we win in the rest of the world," the letter added.

Jun further thanked all employees for their continued hard work and urged them to embrace great opportunities and challenges.

"We have entered more than 70 markets globally and established a leading position in many of them. But this is just a start. There is still a lot of room for growth in the markets we are present in, and we have yet to enter many more markets around the globe. Overseas markets represent huge opportunities for us and we need to give more support in terms of strategy, resources, and localized product development, as well as send more of our employees out to the rest of the world," Jun concluded.