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[News] Xiaomi Turns Profitable In 3 Years ,Outstrips Revenues Of Many Homegrown Brands

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21:14, Dec-07-2017 | From Redmi Note 4X
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This post was edited by Manish@786 at 21:54, Dec-07-2017

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Hi Mi Fans ,

After our  sales reportedly grew seven folds, India unit of Xiaomi has turned profitable in just three years of its arrival in the country. Xiaomi has been reported to have made a profit of Rs 164 crore during the FY 2017, up from a loss of Rs 47 crore in 2016. Xiaomi's  revenues surged this year as well, wherein Xiaomi had sales of Rs 8,380 crore, up from just Rs 1,046 crore last year. That’s a surge of 696 percent in sale.

“The entire revenue is generated through sale of cellular phones, accessories, spares and services. Directors expect the performance of the company during the current financial year to improve as estimated,”  Xiaomi saying in its regulatory filings.

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The home-market being the biggest, India is the second most important market for Xiaomi. During the July-September quarter, IDC reported how Xiaomi caught up with Samsung in volume shipments in India. For that matter, Xiaomi even outstriped the revenues of Indian smartphone manufacturers like Micromax, and Intex.

Xiaomi’s revenues of Rs 8,380 crore far outstrip the revenues of homegrown brands like Micromax, which made 5,614 crore, and Intex that made Rs 4,364 crore. While Xiaomi’s revenues surged this year, Micromax and Intex saw a downward graph. Micromax’s revenues fell 42 percent this year, while Intex’s fell 30 percent.

In fact, Xiaomi together with Oppo, added over $2 billion of sales in India, considering the latter too grew by 754 percent last year to Rs 7,974.3 crore.

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The increasing revenue of Xiaomi in the country is indicative of increasing trust of Indians on products that were widely considered as “rip-offs” till some years ago. However, Xiaomi especially has managed to make its way to the heart of the Indian consumers via its unusually low pricing. Xiaomi is actively aware of the demands and the spending habit of the consumers in the country, and strategizes its sale accordingly. For instance, Xiaomi did not release its flagship Mi 6 in India, saying that it was too expensive for the market, instead launched the Redmi 5A in the country, which Xiaomi calls the ‘Desh ka smartphone’.

SOURCES : 1 , 2

Disclaimer: This is a reproduced article and the copyright rests with the original author. The views in this article are not from MIUI News Team, or MIUI Global Forum. If there is any disagreement, please contact the Forum Management Team to delete it


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