Xiaomi hits $1 billion revenue in the world's fastest growing smartphone market

Xiaomi CEO Lei Jun’s ambition to make his company the largest smartphone vendor in India is playing along quite nicely.

The Chinese company had a blockbuster 2016 in India, and its revenue crossed $1 billion, Xiaomi India’s head Manu Kumar Jain said Thursday. Jain claimed it is the fastest for any company in India to reach $1 billion in revenue. Xiaomi entered India in July 2014.  

Last year, Xiaomi became the third largest smartphone brand in India in Q3 2016, after selling over two million smartphones at an annual growth rate of 150 percent. Xiaomi began its India operations by selling smartphones, but has since expanded its portfolio to include accessories as well as air purifiers.   Read more...