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Xiaomi Expects Sales To Top 100 Yuan ($16 Billion) This Year

| Mar 06, 2015 07:54 PM EST

For Xiaomi chief Lei Jun, customer satisfaction is their top priority.

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.

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