Advanced Search

The story appears on

Page A12

December 7, 2017

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » IT

Xiaomi plans to double revenue in 2018

By Zhu Shenshen | 00:01 UTC+8 December 7, 2017 | Print Edition

XIAOMI aims to double overseas revenue in 2018 by expanding in areas such as India and Europe, as well as possible new business in the United States.

The company is “seriously preparing” to enter the lucrative US market, Xiaomi chairman Lei Jun told a Qualcomm tech conference in the US yesterday.

He said a further announcement would be made about the US plans.

He said Xiaomi plans to invest heavily on research, its eco-system and new advanced manufacturing. The company has established a 12 billion yuan (US$1.8 billion) fund for the Internet of Things and new materials.

Xiaomi’s global revenue is expected to jump 300 percent year on year in 2017 and about another 100 percent next year, Lei said on the sidelines of Qualcomm’s Snapdragon Tech Summit.

Xiaomi has taken the No. 1 position in India, the world’s second largest market only after China and is one of the top five players in 12 overseas smartphone markets, including Russia, Greece and Singapore.

IT


 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend