Xiaomi expects $2 billion revenue from its India business: Report

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Chinese smartphone maker Xiaomi is all set to garner $2 billion revenue from its operations in India this year, PTI reported.

According to the report, Xiaomi India Head, Manu Jain said that "We have seen 328 per cent growth in H1 2017 compared to same period last year. This was driven by strong sales of devices like Redmi Note 4, Redmi 4A and Redmi 4. 2X growth over last year is definitely achievable in 2017."

Xiaomi expects $2 billion revenue from its India business: Report

He said, the company is also expanding its retail presence and after sale service.

Meanwhile, the company has launched its new smartphone Mi Max 2 at Rs 16,999. The new device comes with the 6.44-inch display, 4 GB RAM, 12MP rear and 5MP front cameras and 5,300 mAh battery.

To recall, the company has recently announced that it has shipped 23.16 million smartphones in Q2 2017, a 70 percent increase from the previous quarter.

Xiaomi expects $2 billion revenue from its India business: Report

Xiaomi is already doing well in several markets mainly in India and China and while the company has been gaining a lot of popularity, Xiaomi's CEO Lei Jun disclosed this new achievement stating the revenue from India in the first half of the year has gone up 328 percent year-on-year.

"We are now the two brand in the overall Indian smartphone market. Redmi Note 4 has become the highest shipped smartphone in the country, and Xiaomi is now widely recognized as a leading brand," he added.

He also pointed out that, in the next 12 months, the company will be hiring thousands of R&D talent for its smartphone business and further bolster the company's innovation capabilities.

Read More About company | xiaomi | year | Mobile | news

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