For Xiaomi chief Lei Jun, customer satisfaction is their top priority. (Photo : Reuters)
Five years since its launching, Xiaomi has been making good figure revenues that many companies in the tech industry very jealous. Xiaomi is a Chinese smart phone maker that expects a revenue to top 100 billion yuan ($16 billion) for the current year according to Lei Jun, Xiaomi CEO, at an event in Beijing on Thursday, according to NASDAQ.
Xiaomi representative did not respond immediately to make a public comment.
Those figures would denote at least 30% revenue increase from the previous year, when Xiaomi sales hit 74.3 billion yuan (or about $12 billion).
On that level however, Xiaomi's revenue will still be far short compared to its competitors like Apple Inc. which generated $182 billion in profits for the previous year. Revenues are lagging as well since the company made only $56 million in net profits in 2013.
Xiaomi gained a good grip with its gadgets that were manufactured to invite comparison to Apple products but at a very much affordable price. Xioami smart phones has been selling a lot in the Chinese market at a reasonable price while having capabilities and features with that of an Apple smart phone.
A researcher in Xiaomi has passed Samsung to be top selling smart phone in China. Xioami is not aspiring to take a step into the US market.
By the end of 2014, Xiaomi confirmed that it has raised its funding to $1.1 billion at a $45 billion pre-money evaluation. This made the most valuable start up in the world, Mashable reported.
