Smartphone maker Xiaomi is now one of China’s biggest players in the phone market racking up an impressive $1.1 billion in sales just last month with its revenue reaching $74.3 billion CNY ($12 billion dollars) in total during 2014.
CEO Lei Jun announced the new numbers on Weibo, and they are on track to meet the company’s goals for the year. In 2013, Xiaomi sold 18.7 million phones, compared to 7.2 million in 2012. Despite being only 4 years old, the company has been steadily growing its brand and business each year at a rapid pace. The value of the Chinese smartphone maker soared to a huge $45 billion and it ranks among the largest smartphone manufacturers in the world.
Lei Jun previously announced that they are expected to sell 100 million devices in 2015 with the company going in its current direction as it is doing business in seven countries inside of Asia, as it has expanded beyond China. Lei Jun announced that there will be further expansions coming later in 2015 with plans to move into the markets in Southeast Asia, Mexico, Turkey, Russia and Brazil.
The Chinese smartphone maker also released a new product, its $150 Redmi 2 smartphone which Lei Jun says is a new flagship Mi phone which typically sells for $300. The phone will be officially unveiled on January 15. Lei Jung plans to continue investing in hardware partners in 2015.