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Xiaomi FY revenues leap 135% to CNY 74.3 bln
2015-01-05 09:24:00| Telecompaper Headlines
(Telecompaper) Chinese smartphone maker Xiaomi Technology said pre-tax revenues jumped 135 percent year-on-year to CNY 74.3 billion (USD 12 billion) in 2014, CEO Lei Jun said on his official microblog account, as reported by Reuters. Xiaomi sold a total of just over 61 million phones last year, up 227 percent from the year before. Lei added that growth in China's smartphone market was expected to ease this year and that the company wanted to focus on innovating new products and pushing into more overseas markets. The blog post did not give a related profit figure. Part of the business made CNY 347.5 million net profit last year on revenue of CNY 26.6 billion and an operating margin of 1.8 percent. Lei, who is both chairman and chief executive, said he holds 77.8 percent of the company he co-founded in 2010, with unnamed shareholders splitting the rest, according to a recent filing.
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Category:Telecommunications
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