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Xiaomi’s Mi Fan Festival Revenue Hits All-Time High

April 7, 2016 - Written By Kristijan Lucic

XIaomi is still one of the fastest-growing smartphone manufacturers in the world. This China-based company sold around 70 million smartphones last year, and is the number one smartphone manufacturer in the Chinese market. This would be completely normal if you don’t consider one thing, Xiaomi was founded back in 2010, which means this is a very young company, and they managed to become the number 1 ranked smartphone manufacturing company in China in less than 5 years of existence.

That being said, Xiaomi was founded on April 6th 2010, which means yesterday was the company’s anniversary. As it’s the case every year when April 6th comes around, Xiaomi has kicked off the ‘MI Fan Festival’ (also known as ‘Singles Day’), which is essentially a time of huge sales for the Chinese consumers. This is an online only event, and the results are in. The company has managed to bring a total revenue of 1.87 billion Yuan ($289 million) yesterday, a,d totally crushed last year’s results. In 2015, Xiaomi earned 1.25 billion Yuan ($) in revenue, which means they managed to score 0.62 billion Yuan ($) more this time around. Now, China wasn’t the only market Xiaomi kicked off the Mi Fan Festival, India participated as well, as it was announced the other day. Xiaomi’s official site in India had 1.2 million unique visitors yesterday, and the company managed to sell over 100,000 smartphones and accessories. During the Mi Fan Festival in China, Xiaomi offered six new products, the Mi 5 Pro, Redmi 3 Pro, Mi TV 3s, Mi Wi-Fi 3, Mi Induction Heating Pressure Rice Cooker, and the Mi Water Purifier.

Xiaomi usually discounts a number of products on the company’s anniversary, so these numbers aren’t all that surprising. The company was expected to beat last year’s record, though I doubt they expected such high sales numbers. Either way, the smartphone market in China is slowing down, and Xiaomi is putting huge emphasis on the ‘Mi Ecosystem’ which was introduced recently. We can expect to see many more devices released by the company before the end of the year, so stay tuned for that.

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