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Xiaomi India crosses US $1 Billion revenue mark in just two years

Xiaomi sold more than 1 million smartphones in India in just 18 days and over 2 million smartphones for the first time in Q3 2016. It has recorded a nearly 150 per cent year-on-year growth.


BT Online | January 5, 2017 | Updated 13:29 IST
Xiaomi India crosses US $1 Billion revenue mark in two years
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Chinese smartphone maker Xiaomi India clocked over $1 billion revenue in 2016 within the first two years of its operation in the country.

Xiaomi sold more than 1 million smartphones in India in just 18 days and over 2 million smartphones for the first time in Q3 2016. It recorded a nearly 150 per cent year-on-year growth.

In a Facebook post, Xiaomi's India head Manu Jain announced the historic feat and said: "We are truly excited to announce that Xiaomi has achieved this historic feat of recording over US$1 billion in revenue achieved within two years of us launching our operation in India."

He further wrote, "2016 was an incredible year for us and we were able to attain several milestones. This achievement is a great motivation for us to deliver even more high-quality, disruptive products in the coming year. It speaks volumes about the love and trust Mi fans have for Xiaomi, and we are extremely thankful to everyone who were a part of our journey. We look forward to an even better 2017."

According to Jain, Xiaomi made its entry in top 3 smartphone brands in Q3 2016 and crossed 2 million smartphone sale for the first time in Q3 2016.

He also referred to the IDC report that said Redmi Note 3 was the highest shipped smartphone in the history of online smartphones industry, with more than 2.3 million devices sold in 6 months.

Jain said that Redmi 3S (along with Redmi 3S Prime) and Redmi Note 3 were respectively the No.1 bestseller devices during Diwali's Flipkart's Big Billion Days and Amazon's Diwali Shopping Festival.

"Redmi 3S and Redmi Note 3 contribute significantly to the online smartphone market with nearly 50 per cent market share among top 10 phones in India
This achievement of US 1 plus Billion dollar is a great motivation for us to deliver even more high-quality, disruptive products in the coming year. It speaks volumes about the love and trust Mi fans have for Xiaomi, and we are extremely thankful to everyone who was part of our journey," Jain said in his FB post.

 

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