Xiaomi-Mi4-01

Xiaomi Sets 1 Billion Yuan ($163 Million) Sales Record Halfway Through China’s Singles Day

November 11, 2014 - Written By Kristijan Lucic

Today is Singles’ Day in China which is the largest online shopping day on the planet. The day is halfway over and there are records set all over the place. Alibaba has sold a $2 billion-worth of items in the first two hours and broke completely crushed last year’s performance which was set at 10 hours to go. Alibaba is not the only company that is making waves in China today though, you guessed it, Xiaomi is all over the place yet again. The company has set its own sales record, with more than 1 billion Yuan ($163 million) in revenue, I say it again, the sales are still not over and there’s still plenty of time to go. Hugo Barra, Xiaomi’s VP of International, said that the company reached 100 million Yuan ($16 million) within five minutes after sales started and the company hit 550 million Yuan ($90 million) in the first four hours. Xiaomi sold 720,000 units by midday, they sold 250,000 Mi4 (flagship) units for $300 each, 460,000 units of company’s $150 Redmi device and 25,000 of Mi TVs. Xiaomi’s revenue number are far lower than Alibaba’s, but keep in mind that the company sold only 19 million handsets during 2013.

Xiaomi has sold 19 million handsets in 2013 and they sold 44 million units by the end of Q3 2014 and by the end of this year the company will go well over 60 million units while they plan to move at least 100 million handset in 2015. I don’t have to explain how fast the company is progressing, the numbers speak for themselves. Xiaomi is currently extremely active in parts of Asia, including India and the company plans to expand to Southeast Asia, Central and Latin America as well as Russia. Xiaomi is currently trying to raise $1.5 in funding in order to go through with the expansion plans and considering the growth rate of this Chinese manufacturer I have no doubt they’ll be able to do that rather soon. Anyhow, if you live in China, the largest online shopping day on the planet is still underway, so if you’re in a need of some tech gear or something else… well, shop away, there’s still time to grab all sorts of discounted stuff.

Xiaomi Lin Bin celebrating