Xiaomi Sold 61.1m Phones in 2014, and Doubled Revenues

By Tim Maytom

Redmi 2

Chinese smartphone manufacturer Xiaomi has announced sales figures, revealing it sold 61.1m handsets throughout the year, an increase of 227 per cent, and saw revenues grow 135 per cent, to ¥74.3bn (£7.8bn).

The news comes shortly after the company confirmed a new round of funding, placing its valuation at $45bn, and making it the most valuable technology start-up in the world, just four years after it was founded.

The sales figures were disclosed by Lei Jun, CEO of Xiaomi, in a letter to staff. “2014 is an important landmark in the history of Xiaomi and we have grown from a follower to a pioneer in this industry,” wrote Lei. “In 2015, there will be a slower growth in domestic smartphone industry. Eco-system and endurance will be the key factors that determine a company’s success.”

Lei Jun also referenced the recent legal battle the company has faced in India, with Ericsson claiming the company’s designs infringe upon eight patents that Ericsson holds. Lei said the attention being paid to the company’s products represented a “Grown-up Ceremony of Xiaomi” and meant that other international companies now considered it a peer. Ericsson will present evidence of the patent violation in …read more

Source:: Mobile App News