Chinese phonemaker Xiaomi crosses $1 billion revenue target in India
)
11:15 AM IST
China's leading smartphone maker Xiaomi has earned over $1 billion (Rs 6,800 crore) in revenue in the Indian market in 2016.Manu Jain, Xiaomi India head told the Economic Times that the company's sales doubled in the country since 2015. Research firm IDC said that Xiaomi has 40% share of the Indian smartphone sector and its Redmi series alone sold nearly 11% of the total phones in its category.
South Korea's Samsung earned revenue of Rs 47,001.4 crore with 70% of it coming from phone sales, followed by Chinese firm Lenovo at second spot holding 13.4% market share with Rs 10,484 crore of revenue, ET said.
On the other hand, revenue of Apple India stood at Rs 9997.10 crore and Micromax at Rs 9825.46 crore respectively, ET reported.
Till September 2016, Xiaomi was No 4 smartphone company in terms of volume with a 7.4% market share following Micromax, Lenovo and Samsung.
Last month, Xiaomi launched its entry-level VR (virtual reality) headset "Mi VR Play" and live-streaming "Mi Live" app in India.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
Rs 10,00,000 FD Deposit For 1-year: Compare interest rates from banks like SBI, BoB, Canara Bank, HDFC Bank, ICICI Bank for general citizens
)
Top 3 Small Cap Mutual Funds with Highest SIP Returns: Rs 13,000 monthly investment in No. 1 fund has grown to Rs 16.96 lakh in just 5 years
)
9 Stocks To Buy For Long Term: Analysts recommend largecap, midcap, smallcap scrips; HUL, TCS on the list
)
Rs 13 Lakh Lumpsum Investment in FD: Compare SBI, HDFC Bank, ICICI Bank, PNB, post office 3-year fixed deposit returns
)
New UPI Rules From August 1: Everyone should know about these 4 UPI changes taking place from next month
11:15 AM IST