Xiaomi phone company sold 61Million phones in 2014

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Xiaomi, the Chinese smartphone maker that raised $1.1 billion last month, has confirmed that it sold 61.12 million phones last year, bringing in an apparent revenues of 74.3 billion CNY ($12 billion) in the process.

The new figures were released by CEO Lei Jun on Weibo and are right in line with the company’s expectation for the year. Xiaomi sold 18.7 million devices in 2013, and 7.2 million in 2012, so the four-year-old company is continuing to grow its business at a rapid rate — its recent funding round valued it at $45 billion and it is now the world’s third largest smartphone maker.

Lei Jun previously stated that Xiaomi expects to sell 100 million devices in 2015 and, with the company doing business in seven countries in Asia right, it has developed beyond its original focus on China with greater capacity to grow its business. Lei Jun said there will be further expansions to come this year, he didn’t specific which markets but Xiaomi has been linked with new launches in Southeast Asia, and entries into Mexico, Turkey, Russia and Brazil.

Lei Jun’s post on Weibo, which is an open letter to Xiaomi 5,000-plus staff, acknowledged that China’s smartphone is more competitive than ever. Xiaomi overtook Samsung to take the top spot based on sales in China, but many rivals are chasing it.

Indeed, Huawei and Lenovo are two examples of big companies that are copying Xiaomi’s aggressive online sales model in the country. With that in mind, Lei Jun told employees to “reset our attitude and reset our journey”.

 

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