Xiaomi India crosses $1 billion revenue in 2016, sells 2 million smartphones in Q3

The year 2016 ended on a positive note for Xiaomi India as the China-based company reported crossing revenue of $1 billion . The company, which is two years old in the country, immediately gained popularity among the masses owing to its affordable but feature-rich Android smartphones. In his Facebook post, Xiaomi India head Manu Jain revealed the company has made its entry into the top three smartphone brands in the third quarter of 2016 in terms of shipments.

 With best-selling smartphones such as the Redmi Note 3 and Redmi 3S Prime, Xiaomi was able to cross 2 million smartphone sales for the first time in the third quarter last year, achieving about 150 percent year-on-year growth compared to the same quarter in the previous year.

According to a recent IDC report, the Xiaomi Redmi Note 3 was the highest shipped device in the history of online smartphones industry with over 2.3 million units sold in six months. Another milestone achieved by Xiaomi is that the Redmi 3S, Redmi 3S Prime, and Redmi Note 3 were respectively the number one best-selling devices during Flipkart’s Diwali Big Billion Days and Amazon’s Diwali Shopping Festival. Additionally, the Redmi 3S and the Redmi Note 3 have close to 50 percent share in the online smartphone market, Manu Jain reveals.

According to another IDC report, Chinese brands have captured a total market share of 40 percent in about 30 major Indian cities. Xiaomi, in particular, took the third spot with a market share of 10.7 percent. What adds to the successful end to 2016 is the company’s move to expand in the offline market. When Xiaomi entered the Indian smartphone market, it sold its products exclusively through the online channel. In 2015, the company decided to tie hands with Reddington to start selling through offline stores in the country. A

s the company looks ahead at a better start with products other than smartphones, Xiaomi plans to scale up its investment in India in 2017. The company is already working towards the Make in India program which has allowed the company to manufacture more than 75 percent of its smartphones in the country. This year, the company plans to expand its manufacturing facilities to widen the product range. As of now, Xiaomi has a wide range of consumer products including electric bikes, smart mattresses, and much more, and available in home country China. However, some of these products are yet to be launched in India.

Source: bgr.in

Alvaro TR

Enthusiast of technology. Big fan of this Chinese manufacturer that is Xiaomi Inc, which offers good quality electronic devices at a very competitive price.

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