Xiaomi continues its remarkable journey with a record-breaking half. Xiaomi Co-founder and President Bin Lin remarked that the young upstart had pushed a total of 26.1 million phones to consumers in the first half of 2014, delivering over 33 billion RMB in revenue. That’s 271% of growth in phone sales and 149% growth on revenue compared to the previous year.
On his personal Facebook page, Bin Lin said, “Big thanks to all the mi fans and business partners. Without you, we wouldn’t have achieved so much.”
Xiaomi began its international expansion outside of its homeland China, starting with Singapore. The RedMi and flagship Mi3 made their debuts in 21 February and 7 March respectively, with the Mi3 selling out within 2 minutes.
Malaysia came shortly after, with a limited portfolio of the Mi3 and immensely popular Mi Power Banks. The recently announced RedMi 1S and uprated RedMi Note will be made available soon. An LTE-enabled flagship is expected in Q4 of this year.
A purely e-commerce company, Xiaomi has shaken up the industry with its low-cost, high-specced phones.
Philippines is the latest market Xiaomi has ventured into with India coming shortly. (*correction)
At this juncture, there seems no stopping the young, vibrant brand and is certainly the one to watch for the coming year or two.
