Xiaomi crossed $1 billion revenue in India during 2016, claims company

Xiaomi claims to have crossed $1 billion revenue, became the third smartphone vendor in Q3, 2016.

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Highlights

    • Xiaomi claims to have crossed $1 billion worth of revenue in India during 2016.
    • The company sold over 2 million units and became the number three smartphone vendor in Q3, 2016.
    • Redmi Note 3 was the highest shipped smartphone by the company, as per the data from IDC.

Xiaomi today announced that it has crossed $1 billion (Rs 6800 crore) worth revenue in India during 2016. The company was able to achieve this major turnover in the second year of its operation in India.

The announcement followed soon after the company’s claim of selling more than one million smartphones within 18 days. The company also said that they sold for over 2 million units in third quarter of 2016 which leads a 150 per cent year-on-year growth for the company.

Manu Jain, the India Head of Xiaomi said, “We are truly excited to announce that Xiaomi has achieved the historic feat of recording over US$1 billion in revenue achieved within two years of us launching our operation in India. 2016 was an incredibly year for us and we were able to attain several milestones.”

He further added, “This achievement is a great motivation for us to deliver even more high-quality, disruptive products in the coming year. It speaks volumes about 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 event better 2017.”

As per the report from International Data Corporation (IDC) which was published recently, the Chinese vendors have seized a 40 per cent of the Indian smartphone market, with Xiaomi scoring the third position with a market share of 10.7 per cent. Samsung being at the top in the list of smartphone segment in India, Lenovo follows the lead and takes the second position.

Some of the key achievements of Xiaomi in India during the year 2016 are-

Xiaomi achieved the number 3 smartphone vendor in India in the third quarter of 2016; Mi India crossed 2 million smartphone sales in Q3, 2016. As per IDC data, Redmi Note 3 was the highest shipped smartphone by the company. The Redmi 3 series could hit the top selling devices list during the Flipkart’s Big Billion Days sale and Amazon’s Diwali Shopping Festival.

After achieving such milestone in India, we can expect Xiaomi to launch new ‘affordable’ mid-budget smartphones integrating some of the latest specifications in the country soon.