Xiaomi has crossed $1 Billion (equivalent to Rs 7,000 crore) revenue milestone in 2016 in India. The latest achievement was revealed by Xiaomi’s India head Manu Jain in a Facebook post. Xiaomi has achieved this feat just two years after its foray in India.
Manu Kumar Jain, India head of Xiaomi, said:
“We are truly excited to announce that Xiaomi has achieved this historic feat of recording over US$1 billion in revenue achieved within two years of us launching our operation in India. 2016 was an incredible year for us and we were able to attain several milestones. This achievement is a great motivation for us to deliver even more high-quality, disruptive products in the coming year. It speaks volumes about the love and trust Mi fans have for Xiaomi, and we are extremely thankful to everyone who were a part of our journey. We look forward to an even better 2017.”
Jain also shared some more milestones achieved by Xiaomi in 2016. Firstly, the company crossed 2 million smartphone sale for the first time in Q3 2016, achieving ~150% Year on Year growth from Q3 2015 to Q3 2016. According to IDC, Redmi Note 3 was the highest shipped device with more than 2.3 million devices sold in 6 months. He also shared that Xiaomi Redmi 3S (along with Redmi 3S Prime) and Redmi Note 3 were respectively the top bestseller devices during Diwali’s Flipkart’s Big Billion Days and Amazon’s Diwali Shopping Festival. Finally, Redmi 3S and Redmi Note 3 contribute significantly to the online smartphone market with nearly 50% market share among top 10 phones in India.