Xiaomi Doubles Revenue to $12 Billion in One year

XiaomiXiaomi Technology Limited, the rapidly growing tech firm from China earned a pre-tax revenue of $11.97 billion in 2014 which is a whopping 135 percent growth from previous year, Lei Jun, the CEO of the firm has said on his microblog on Sina weibo.

These figures show a clear light on the meteoric growth that Xiaomi is undergoing at the moment which has made it the number three smartphone maker in the world behind Apple and Samsung as well as the home company Huawei Technology

Lie further added that Xiaomi sold 61 million smartphones in the year 2014 which are two times more (227 percent) than the last year.

No profit figures have been given in the blog post by Lei Jun but in an earlier filing it was revealed the company is operating on razor thin profit margins.

Lei also said in this blog post that the growth in the smartphone market in China will be going through an easing process in the 2015 and Xiaomi has plans to focus on bringing more innovative products and also seek expansion in the overseas markets.

Lei, who is the CEO as well as the chairman of Xiaomi, owns almost 78 percent share in the company which he founded in 2010 along with other shareholders.

The company had recently raised a capital of $1.1 which valued the company at $45 billion. The investors included DST Global, All-Stars Investment, Yunfeng Capital, Hopu Investment Management and GIC, a sovereign wealth fun in Singapore.

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