Xiaomi India to hit revenues of $2 billion this fiscal, says MD Manu Jain

Xiaomi India will cross the USD 2 billion mark in revenues in the current financial year, its Managing Director  Manu Kumar Jain has said.

According to a report published in The Economic Times, Jain said the India business of the internet company is likely to sustain the same pace of growth next year. There will also be an increase in offline sales and new product launches beyond smartphones, he added.

The company clocked its highest-ever sales in India this year, which included sales of 4 million smartphones during the Diwali period.

According to the IDC Smartphone Tracker report for the third quarter of 2017, the company jointly shared the number one spot with Samsung for the Smartphone Brand in India.

The company has launched a slew of budget smartphones in India over the past couple of years, with the Redmi Note 4 emerging as one of the most popular buys at the lower end of the pricing spectrum.

I’m extremely humbled to announce that @XiaomiIndia has become the No. 1 Smartphone Brand in India, as per @IDC's latest Quarterly Smartphone Tracker (Q3 2017)!!