Xiaomi has announced that it has crossed the $1 billion mark as revenue collected in India in the year 2016. This is only the second year of its operations in the country, after entering in 2014 and it has made it a blockbuster.
Xiaomi has announced that it has crossed the $1 billion mark as revenue collected in India in the year 2016. This is only the second year of its operations in the country, after entering in 2014 and it has made it a blockbuster. Manu Jain, Xiaomi India’s head in a Facebook post claimed that this is the first time any company has able to achieve the milestone in India. In 2016, the smartphone manufacturer became the third biggest brand in India in the third quarter, after selling over two million smartphones at an annual growth rate of around 150 percent. According to an International Data Corporation (IDC) survey, Xiaomi has taken the third spot in India with a market share of 10.7 percent, even as Chinese smartphone vendors last year captured about 40 percent share in India, the second largest smartphone market in the world, PTI reported.
Manu Jain in the post wrote, “This achievement of US$ 1+ Billion 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 was part of our journey.” He also wrote, “We are truly excited to announce that Xiaomi India crossed a revenue of US$ 1 Billion in the year 2016.”
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Meanwhile, according to the IDC data, Micromax reported a 16.7 percent month-over-month sales drop in October. This is bad news for Indian smartphone makers. Here are the other milestones that Xiaomi achieved in India in 2016:
1. Xiaomi made its entry in Top 3 smartphone brands in Q3 2016 (as per shipments)
2. We crossed 2 million smartphone sale for the first time in Q3 2016, achieving ~150% Year on Year growth from Q3 2015 to Q3 2016
3. As per IDC, Redmi Note 3 was the highest shipped device in the history of online smartphones industry, with more than 2.3 million devices sold in 6 months
4. Redmi 3S (along with Redmi 3S Prime) and Redmi Note 3 were respectively the #1 bestseller devices during Diwali’s Flipkart’s Big Billion Days and Amazon’s Diwali Shopping Festival
5. Redmi 3S and Redmi Note 3 contribute significantly to the online smartphone market with nearly 50% market share among top 10 phones in India
Xiaomi, known for its smartphones, has also launched many other products like Air purifiers and VR headsets in the country.