Xiaomi Inc. is a privately owned Chinese electronics company; it is headquartered in Beijing, China and is the world’s 3rd largest smartphone distributor. They design smartphones, mobile apps, and also consumer electronics. According to Forbes, the Co-Founder and CEO; Lei Jun is the 23rd richest person in China.
Current Selling Status
Xiaomi Inc. sold over 60 million smartphones in 2014 and have sold 34.7 million smartphones in the first half of year 2015, which is a 33% year-on-year increase! They mentioned about this in a tweet thanking their fans for the support. Xiaomi has been valued at $45 billion, being the world’s third largest exporter of phones, they have also expanded into Brazil and are currently thinking of expanding into other countries. Lei Jun had already made an estimation that Xiaomi Inc. will sell 100 million smartphones this year and 34.7 million have already been sold in the first half of 2015 which is rather impressive.
Xiaomi Inc. is a five-year-old Chinese company with a revenue of around $12 Billion. They sold 18.7 million devices in 2013, and 7.2 million in 2012 showing a positive growth every year. In Brazil, they will start selling their first phone on July 7 2015. Xiaomi has reserved countries including Turkey, Mexico, Russia and other parts of Southeast Asia for expansion. Currently, they sell phones in eight countries in Asia, and recently started selling their accessories in Europe and U.S.
Statement by Lei Jun
Lei Jun, founder of this company said in a statement that “we did a commendable job, we outperformed in the market and we produced an excellent report card”. It has not been revealed by Xiaomi that which markets have been accounted for what portion of their sales, but we can assume that in China, Xiaomi is strong and dominant. The company shared that 70 percent of sales came through their Mi.com store, which is their primarily retail point. The point which phones sold out the most units so far in 2015. Xiaomi discloses that so far six of its models, which are Mi 2, Mi 3, Redmi, Redmi Note, Mi 4 and Redmi 2, have shipped over and about 10 million units to date.
Supply Chain sources also added that the company in that same period last year, they almost shipped 26 million units that lead them to have a 30 percent rise this year. But the report doesn’t give the details about popular markets for Xiaomi. Xiaomi made this claim last year that they sold over 61 million phones in 2014. This same company in January announced that it had generated revenue of CNY 26.6 billion in year of 2014. Then report in March came cited by Xiaomi’s chief executive Lei Jun that company had these plans to sell up to about 100 million smartphones in this year. They have target to sell between 80 and 100 million handsets in this 2015. This report also claimed that Xiaomi will be achieving total revenue between about CNY 100 billion and 200 billion this year, 2015! It is too announced by Xiaomi that they will set up a research and development unit in Bengaluru, it will be their first such facility that will be outside of China, this company has been looking to enhance their presence in the Indian smartphone market now. Xiaomi’s net profit last year actually rose 84% to 3.46 billion yuan, its revenue has been doubled to 27 billion yuan. It is forecasted a 75% net profit increase will be seen in this year.
Yes, Xiaomi has been really earning a profit and it’s impressive and it is doing better as compared to other smartphone companies like Blackberry, Sony, HTC. It is the celebration time for Xiaomi, way to go, let us see that in the last months, how much sales they will be making?
We sold 34.7 million smartphones in 1H 2015 alone, a 33% year-on-year increase! Big thanks to Mi fans. RT the news! pic.twitter.com/5EGzJBDlDc
— Mi (@xiaomi) July 2, 2015