Xiaomi Corp. doubled its revenues in 2014 according to a blog posting by Chief Executive Officer Lei Jun. The Beijing based company’s sales before tax rose to $12 billion last year, Lei said on his micro-blog yesterday. It sold close to 61.1 million mobile phones last year more than 227 percent from last year which is being seen as a huge positive for the company. Xiaomi plans to release its RedMi smart phone on January 15th and would be looking at introducing a flagship product on the same day which it believes would change the technology landscape. It is imperative to state that China’s largest smart phone vendor has a current valuation of close to $45 billion after it raised $1.1 billion in a funding round very recently. In the quarter ended Sept 30th, Xiaomi had become the third largest smart phone vendor in the world behind Samsung and Apple Inc. The company plans on selling 100 million smart-phones in this current fiscal.
Many analysts believe that Xiaomi has the potential to become a $100 billion company in the near term which is a huge positive. The company is currently expanding its presence in the Indian market as it believes that the market has the potential to provide the next fillip to the company in the near term.
Though, many tech analysts believe that the company could face hurdles as it is being accused of building phones which are look-alikes of Apple Iphones which might raise serious infringement issues for the company in the near term. Also, many analysts are of the view that the company might working on introducing the MacBook killer and it could be the company’s flagship announcement on January 15th which could be seen as a huge positive as the sales of laptops have over-taken that of desktops in the emerging markets over the last couple of quarters.