Xiaomi sold over 61 million phones globally in 2014

Xiaomi has beaten its own expectations by selling over 61 million smartphones in 2014 - more than three times the number it sold in 2013. The Chinese startup generated revenue of ¥74.3 billion ($12bn; £7.8bn) in total during 2014 with smartphone sales rising from 18.7 million in 2013 to 61.1 million last year. The CEO of the $45 billion tech heavyweight, Lei Jun, delivered the good news in a letter to the company’s employees.

The company’s sales have grown by a mind-boggling 227% compared to 2013. At CNY 74.3 billion (about $12.1 billion), Xiaomi’s 2014 revenue before tax has risen 135% from the previous year. Unsurprisingly, the Chinese giant did quite well internationally. Xiaomi sold 1 million Mi smartphones in India in less than one month. The company plans to enter more countries this year.

Xiaomi Phone Price

Xiaomi's domestic growth is expected to slow down this year. This is hardly a surprise as many competitors began copying its business model. Indeed, Huawei and Lenovo are two examples of big companies that are copying Xiaomi’s aggressive online sales model in the country. However Xiaomi remains the biggest smartphone brand in its home territory and only sells its smartphones in select countries in Asia - with a major expansion into India in 2014.

Many analysts expect more expansion in 2015, though a launch in western territories like the US and the UK is unlikely at this point. The company is set to launch its latest flagship smartphone - dubbed the Mi 5 - this month, though a launch at CES 2015 which is kicking off in Las Vegas on Sunday has been ruled out by the company.

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