Comments
Chinese smartphone giant Xiaomi Inc. today said the company sold a whopping 61.12 million smartphones in 2014, up 227 per cent year on year.
Total sales revenue with tax reached 74.3 billion yuan ($12 billion) up 135 per cent year on year, company founder and CEO Lei Jun said in an open email to his employees.
Sales of the brand expanded to six countries and regions over the past year, including India, Malaysia, Singapore and the Philippines.
Xiamoi ran into trouble in India after brisk sales following a lawsuit filed by Ericsson for violation of its patents.
The company, headquartered here, was valued at $45 billion in the new round of financing late December, state-run Xinhua quoted Lei as saying.
Redmi 2 launch
The announcement comes as the company released its new model, Redmi 2, today for sale in China for 699 yuan ($113), considerably cheaper than its other models.
Xiaomi, which means “millet” in Chinese, was founded in April, 2010 by Lei and his friends in Zhongguancun, Beijing’s technology hub which has been called “China’s Silicon Valley“.
Xiaomi’s first smartphone made its debut in August, 2011.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.