Xiaomi Doubles Revenue to $12 Billion as Phone Sales Triple
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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.