Xiaomi had quite the year in 2014, as summarized in a letter from the CEO Lei Jun. In 2013, Xiaomi had raised funding to bring their total valuation to $10 billion dollars, and in the last quarter of 2014 Xiaomi again raised more funding, and quadrupled their valuation to over $40 billion dollars. Their success has come from investing in 20 or so companies to build a strong foundation for growth. 2014 was a banner year for Xiaomi, selling over 61 million Mi phones in just China and 7 other countries. What makes this even more incredible, is that just 4 years ago, Xiaomi had just opened its doors for business.
2014 was the year Xiaomi entered those 7 other markets, and with a strong foundation they were ready to meet the demand of their affordable phones. Major smartphone maker Samsung has suffered greatly at the hands of Xiaomi. Samsung even restructured and laid out plans to streamline their business model to gets their sales numbers back. Xiaomi posted record sales of 74.3 billion RMB, or roughly $12 billion USD which has put a sizable dent in all Android sales.
I look forward to Xiaomi making a visit to the U.S. which should help bring the prices of phones down for all of us.
Source – MIUI