Xiaomi’s revenue to soar 50% to US$16b

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March 6, 2015

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Xiaomi’s revenue to soar 50% to US$16b

By Zhu Shenshen | March 6, 2015, Friday |

Print Edition

XIAOMI Corp expects revenue to surge 50 percent to 100 billion yuan (US$16 billion) in 2015, and the smartphone maker targets to become the world’s No. 1 player within a decade.

Roberta Cozza, research director at Gartner Inc, said Chinese vendors such as Huawei and Xiaomi “are producing higher-quality devices with appealing new hardware features that can rival the more established players in the mobile phone market.”

In February, Xiaomi started selling smart wristbands and mobile power chargers on an online store which it opened in the United States as a first step for the startup smartphone vendor, estimated to be valued at US$45 billion after it raised US$1.1 billion in December, to penetrate the market there.

Xiaomi also sells its phones and tablet computers in other overseas markets, including Singapore and India.

Xiaomi has also started to sell products such as air purifiers, light bulbs and sports cameras which can be controlled by smartphones.

In December, Xiaomi invested 1.26 billion yuan in home appliance giant Midea, and both firms were set to debut smart home appliances soon.

Xiaomi, the world’s fifth-biggest smartphone vendor, aims to become the world’s No. 1 player within a decade surpassing Apple Inc, CEO Lei Jun said yesterday in Beijing.

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Xiaomi’s revenue to soar 50% to US$16b

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