Home
Register
Xiaomi Corp., whose investors include billionaire Yuri Milner, more than doubled its revenue in 2014, according to a blog posting by Chief Executive Officer Lei Jun.
The Beijing-based company’s sales before tax rose to 74.3 billion yuan ($12 billion) last year, Lei said on his microblog yesterday. It sold 61.1 million mobile phones, 227 percent more than in the previous year. Xiaomi plans to release its Redmi smartphone and will hold a press conference on Jan. 15 to discuss an “important flagship” product, according to the post.
China’s largest smartphone vendor said on Dec. 29 that its valuation has risen to $45 billion following a $1.1 billion funding round that included investors such as Milner’s DST, Singapore’s GIC Pte and All-Stars Investment Ltd. The company is now the highest-valued IT firm yet to go public, Lei said.
Xiaomi, which means “millet” in Chinese, was founded in 2010 to make software for mobile devices running Google Inc.’s Android system. The company subsequently released products including a tablet computer, a television set-top box and TVs that connect to the Web.
In the quarter ended Sept. 30, Xiaomi was the world’s third-largest vendor behind Samsung Electronics Corp. and Apple Inc. It aims to sell 100 million phones this year.
Xiaomi has the same potential as Facebook Inc. and Alibaba Group Holding Ltd. to reach a valuation of $100 billion, Milner, an early investor in all three, said last month.
To contact Bloomberg News staff for this story: Sarah Chen in Beijing at schen514@bloomberg.net
To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Robin Ganguly, Dick Schumacher
http://www.bloomberg.com/news/2015-01-04/xiaomi-doubles-revenue-to-12-billion-as-phone-sales-surge.html
The Beijing-based company’s sales before tax rose to 74.3 billion yuan ($12 billion) last year, Lei said on his microblog yesterday. It sold 61.1 million mobile phones, 227 percent more than in the previous year. Xiaomi plans to release its Redmi smartphone and will hold a press conference on Jan. 15 to discuss an “important flagship” product, according to the post.
China’s largest smartphone vendor said on Dec. 29 that its valuation has risen to $45 billion following a $1.1 billion funding round that included investors such as Milner’s DST, Singapore’s GIC Pte and All-Stars Investment Ltd. The company is now the highest-valued IT firm yet to go public, Lei said.
Xiaomi, which means “millet” in Chinese, was founded in 2010 to make software for mobile devices running Google Inc.’s Android system. The company subsequently released products including a tablet computer, a television set-top box and TVs that connect to the Web.
In the quarter ended Sept. 30, Xiaomi was the world’s third-largest vendor behind Samsung Electronics Corp. and Apple Inc. It aims to sell 100 million phones this year.
Xiaomi has the same potential as Facebook Inc. and Alibaba Group Holding Ltd. to reach a valuation of $100 billion, Milner, an early investor in all three, said last month.
To contact Bloomberg News staff for this story: Sarah Chen in Beijing at schen514@bloomberg.net
To contact the editors responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net Robin Ganguly, Dick Schumacher
http://www.bloomberg.com/news/2015-01-04/xiaomi-doubles-revenue-to-12-billion-as-phone-sales-surge.html
» CCS.N0000 ( Ceylon Cold Stores)
» Sri Lanka plans to allow tourists from August, no mandatory quarantine
» When Will It Be Safe To Invest In The Stock Market Again?
» Dividend Announcements
» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්රතික්ෂේප කළ ගණිතඥයා
» SEYB.N0000 (Seylan Bank PLC)
» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
» The Korean Way !
» In the Meantime Within Our Shores!
» What is Known as Dementia?
» SRI LANKA TELECOM PLC (SLTL.N0000)
» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
» Equinox ( වසන්ත විෂුවය ) !
» COMB.N0000 (Commercial Bank of Ceylon PLC)
» REXP.N0000 (Richard Pieris Exports PLC)
» RICH.N0000 (Richard Pieris and Company PLC)
» Do You Have Computer Vision Syndrome?
» LAXAPANA BATTERIES PLC (LITE.N0000)
» What a Bank Run ?
» 104 Technical trading experiments by HUNTER
» GLAS.N0000 (Piramal Glass Ceylon PLC)
» Cboe Volatility Index
» AHPL.N0000
» TJL.N0000 (Tee Jey Lanka PLC.)
» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
» Bitcoin and Cryptocurrency
» CSD.N0000 (Seylan Developments PLC)
» PLC.N0000 (People's Leasing and Finance PLC)
» Bakery Products ?
» NTB.N0000 (Nations Trust Bank PLC)
» Going South
» When Seagulls Follow the Trawler
» Re-activating
» අපි තමයි හොඳටම කරේ !
» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
» SAMP.N0000 (Sampath Bank PLC)
» APLA.N0000 (ACL Plastics PLC)
» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
» Banks, Finance & Insurance Sector Chart
» VPEL.N0000 (Vallibel Power Erathna PLC)
» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
» WATA - Watawala
» KFP.N0000(Keels Food Products PLC)
» Capital Trust Broker in difficulty?
» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
» What Industry Would You Choose to Focus?
» Should I Stick Around, or Should I Follow Others' Lead?