Xiaomi will no longer be revealing the annual sales figures of its smartphones. While Xiaomi's annual sales reports were popular, the company's CEO Lei Jung has said that it is growing too fast.

Xiaomi used to announce the sales of its smartphones every year. For instance, Xiaomi announced that it sold more than 70 million smartphones in 2015, which was close to its goal of 80 million.

Tech Crunch reported that due to unimpressive economic growth in 2016, Xiaomi did not witness any significant improvement in its sales. While the company's devices performed will in the Chinese and Indian markets, the increase in sales was nowhere near as impressive as in the previous years.

In 2012, Xiaomi sold 7.2 million smartphones. The next year, that number rose to 18.7 million. In 2014, the company pushed its sales to 61 million smartphones. However, that is the largest sales boost that it has experienced.

An official at Xiaomi has confirmed that the company has decided against disclosing its annual sales to the public, according to Reuters.

This is not very surprising as it would be very difficult to maintain the sudden growth that Xiaomi was experiencing. Jung explained that Xiaomi needs to focus on improving various aspects of its productions and take things slowly to ensure profitable and sustainable growth.

He said that the company plans to achieve a sales revenue target of $14.5 billion in 2017. Jung described this target as a "humble" one.