Xiaomi plans to ‘go global’ after enormous 2014 revenue growth | M&M Global

Xiaomi plans to ‘go global’ after enormous 2014 revenue growth

Chinese smartphone brand Xiaomi has reported a triple-figure percent revenue increase in 2014, and revealed plans to “go global” with new market launches.

Lei Jun

In a blog post at the weekend, chief executive Lei Jun announced that the company had sold 61.12 million smartphones in 2014 making $11.97bn in pre-tax sales, up 135% from 2013.

“We came from behind and became market leader in China… We have faced, and will continue to face more intense competitions in the industry,” said Jun.

Five-year-old Xiaomi is now the world’s third largest smartphone maker after Samsung and Apple. In China, it overtook Samsung in the second quarter of last year to become the market’s biggest-selling smartphone brand by the number of handsets sold.

The Beijing-based company received $1.1bn in funding last week, valuing the firm at a whopping $45bn.

Xiaomi has entered seven markets outside mainland China and sold over one million smartphones in India in less than five months.

In his post, Jun discussed the company’s plans to further expand: “This year, we will enter even more overseas markets. We believe everyone in the world would appreciate the opportunity to enjoy technology innovation.”

In December, last year Xiaomi sales were temporarily suspended in India after Ericsson filed a patent complaint against it.

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