Chinese tech firm Xiaomi's revenue doubles in 2014

Xiaomi says its revenue jumped 135% last year

Tags: ChinaXiaomi Tech (www.xiaomi.com)
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Chinese tech firm Xiaomi's revenue doubles in 2014 Jun: "In India, we sold over 1m smartphones in less than five months". (ChinaFotoPress/Stringer)
By  Helen Gaskell Published  January 5, 2015

Chinese handset maker Xiaomi has announced that it has more than doubled its revenue in 2014, just a week after it was named the world's most valuable tech start-up.

According to online reports, the firm, which is now the world's third largest smartphone maker behind Samsung and Apple, said it made $11.97bn in pre-tax sales last year, up 135% from 2013.

In a translation of a post on chief executive Lei Jun's Sina Weibo microblog on Sunday, the co-founder said the company had come a long way since starting "from scratch" in April 2010.

"2014 is a year of important milestones for Xiaomi. We came from behind and became market leader in China," he said.

"We have successfully entered seven markets outside mainland China. In India, we sold over 1m smartphones in less than five months, he said, despite Xiaomi's sales being temporarily halted in India after Swedish firm Ericsson filed a patent complaint against it.

The company, which plans to unveil a new flagship device this month, sold over 61 million phones last year, up 227% from a year earlier, surpassing its target of selling 60 million phones in 2014.

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