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Xiaomi’s Singles’ Day Results Are In, The Company Earned 1.56B Yuan ($254 Million) In 24 Hours

November 12, 2014 - Written By Kristijan Lucic

Yesterday was Singles’ Day in China, this is the largest online shopping day on the planet. This holiday is considered China’s equivalent of Black Friday in US, for example. Many manufacturers and retailers discount their products in order to sell as many of them as they can. We have reported yesterday during the Singles’ Day that Xiaomi has sold 720,000 units and earned 1 billion Yuan ($163 million) in revenue, but there was still time left, those were the results after the initial 12-hour period. This time around we have the final sales results and they’re truly great for this Chinese manufacturer. Mr. Barra, Xiaomi’s VP of International, once again shared the results with the public. Xiaomi has sold 1 160 000 devices yesterday and raised $254 million dollars in revenue. These results are truly staggering, Xiaomi sold almost 3 times less handsets last year.

Xiaomi truly means business. This company has sold only 19 million handsets in 2013 while they sold 44 million in the first 3 quarters this year and will sell over 60 million devices by the end of this year. Xiaomi plans to sell over 100 million units in 2015, which is just insane. Keep in mind that this company was founded in 2010, so it’s a relatively young company we’re talking about here. Anyhow, Xiaomi plans to expand further into India, South America, South-East Asia and Russia in the coming months / years. If this Chinese manufacturer manages to pull that off and set up business in those areas while keeping this pace as far as sales go, they will become the world’s number 1 vendor in no time. Xiaomi is currently the 3rd biggest vendor in the world and number 1 in China. Singles’ Day was a good indication of what Xiaomi can pull off, we’re talking about a company who sells hundreds of thousands of devices in seconds in Indian market.

Have you ever handled a Xiaomi-made smartphone? Do you think this Chinese company can actually take the number 1 spot from Samsung in the coming months / years or will they hit a road bump on the way and their business plan won’t go through as originally planned? I do believe Xiaomi will have a hard time entering US and Europe market, but they might do great in South America and Russia, while the company is already making waves in India.