Wednesday , April 1 2020
Breaking News
Home / Science & Technology / Xiaomi doubles revenue to $12 billion as phone sales triple
Xiaomi doubles revenue to $12 billion as phone sales triple

Xiaomi doubles revenue to $12 billion as phone sales triple

TAIWAN: Expeditious-growing Chinese tech firm Xiaomi Technology Ltd Co [XTC.UL] booked 74.3 billion Yuan in pre-tax sales last year, up 135 percent from 2013, the firm’s chief executive Lei Jun verbally expressed on his official microblog account on Sunday.

The figures avails shine light on the rapid magnification of the privately-held tech firm which has risen to become the world’s No.3 smartphone maker and is challenging Apple Inc and Samsung Electronics Co Ltd as well as domestic rivals such as Huawei Technology.

Xiaomi sold a total of just over 61 million phones in 2014, up 227 percent from a year earlier, Lei integrated in a post on his Sina Weibo microblog account.

Last week Xiaomi raised $1.1 billion in a round of funding that valued the firm at $45 billion, from investors including All-Stars Investment, DST Ecumenical, Hopu InvestmentManagement, and Yunfeng Capital, as well as Singapore sovereign wealth fund GIC.