Xiaomi Expecting $1 Billion Revenue From Mobile Services Alone In 2015

Smartphone manufacturing giant Xiaomi is now hoping to triple its revenue in the coming time. Xiaomi globally launched its latest phone, the Mi 4i, in New Delhi last Thursday. Going by its price point, the phone looks set to repeat the magic of the erstwhile Xiaomi Mi 3.

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It wishes to do so along with the aid of its mobile services such as a payment app and games. This is according to a report in Technology News China. Founder and Chief Executive of Xiaomi , Lei Jun claimed that Xiaomi hopes to generate a massive $1 billion of revenue in 2015 from its mobile services alone.

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Xiaomi is already one of the most promising startups to come out in recent years, if one goes by the massive flash sales of its handsets. It is also valued at $45 billion, after it raised $1.1 billion towards the end of last year.

Aside from that, Xiaomi has previously stated that it expects an even bigger sum of $16 billion of total revenue this year.

In India too, renowned industrialist and former Chairman of Tata Sons, Ratan Tata has invested an undisclosed amount in the Chinese phone maker.

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Lei has also said that he sees Tencent Holdings Ltd and Alibaba Group as potential competitors. He said, "The ways that Tencent and Alibaba make money today are the ways that Xiaomi will make money in the future."