Xiaomi India clocked over $1 billion revenue in 2016, double from what it made in 2015.
The Chinese Smartphone maker, forayed into the Indian market 2 years ago and according to a recent research conducted by International Data Corporation (IDC), Xiaomi took the third spot with a market share of 10.7%, whereas Chinese vendors collectively took up 40%.
“Whether you look at big business houses, or FMCG companies, electronic manufacturing companies, IT companies, social media giants, no company has achieved such numbers in the history of India,” Xiaomi India head Manu Jain said.
