Xiaomi was founded back in 2010, but the company has quickly risen to be one of the world’s largest manufacturers of smartphones. People may have been impressed with the fact that the Chinese company managed to ship 18.7 million smartphones in 2013 after just three years in existence, but that pales in comparison to the 61.1 million handsets that it sold in 2014.
Lei Jun, founder and CEO of upstart smartphone manufacturer Xiaomi, announced on Sunday that it shipped 61.1 million handsets in 2014. That is a remarkable increase from the 18.7 million units that the company shipped the previous year. On a percentage basis, that works out to a whopping 326% year-over-year increase. In terms of revenue, the company brought in $11.97 billion which more than doubled 2013’s revenue. Profits were not revealed. The executive said that other manufacturers are now starting to copy Xiaomi’s strategies. More companies are now looking to make quick, low-priced sales on the internet, instead of selling their wares through carriers or other retail locations. Xiaomi has been known for its “flash sales” where tens of thousands of phones are sold in seconds.