Chinese phone manufacturer Xiaomi was able to sell 18.7 million smartphones last year – up 160% from the previous year. That’s a staggering total of $5.2 billion USD, a major growth compared to the previous year of $2.08 billion of revenue.
The company released four smartphones in 2013, with the lowest priced at $130. This year, Xiaomi is expected to ship 40 million smartphones – that’s only a small fraction of the country’s growing 1.351 billion residents (2012). The US only had 313.9 million residents compared to the same period. The large Asian country surpassed the US in smartphone usage as the world’s largest smartphone market in 2012. China accounted for 22% of the total world smartphone usage compared to the US’s 16%.
2013 Xiaomi: 1) 18.7 million Xiaomi phones were sold. 2) Pre-tax revenue reached RMB 31.6 billion ($5.2 billion). pic.twitter.com/BJLgIulN72
— XiaoMi (@XiaomiChina) January 2, 2014
CEO Lei Jun states that the shipment of Xiaomi smartphones will be 40 million in 2014. pic.twitter.com/DkvPXtlqMS
— XiaoMi (@XiaomiChina) December 31, 2013