The emerging power in smartphone market Xiaomi Inc. has raked in robust sales this year. The Chinese-based cellphone producer has sold a jaw-dropping 61.12 million handsets during the previous year to post a remarkable 227% increase.
Xiaomi CEO Lei Jun stated in an open email to the company’s employees said that generated total sales revenue (with tax) amounted to $12 billion (74.3 billion yuan) and posted a hefty 135% raise.
Xiaomi expanded its shipments of mobile phones to six different countries and regions in 2014, including emerging lucrative markets such as India, Philippines, Singapore and Malaysia.
It could have been a perfect year for Xiaomi as its handsets were sold like pancakes in India but eventually was slapped with a lawsuit by Ericsson later on for violation of its patents.
Xiaomi’s headquarter is situated in Beijing and now totes a whopping net worth of $45 billion according to the state-run Xinhua.
Xiaomi has disclosed the new figures shortly after its very own Redmi 2 made its debut in China. Redmi 2 is fetched at an affordable price of just $113 and it is significantly less expensive than most of the handsets offered by its rivals.
The Chinese word Xiaomi, which is translated as “millet” in English, was established in April, 2010 by Lei and his companions in Zhongguancun which also dubbed as “China’s Silicon Valley.”
Xiaomi’s pulled the cover of its first ever smartphone brand in August, 2011.