Xiaomi reports $15 billion global sales revenue over past 7 years

Xiaomi has revealed its total sales revenue in overseas markets over the past seven years. The total amounted to $15 billion while Xiaomi also found itself on the top in the Spanish phone market, Wang Xiang, the company’s global business head and senior vice president, at Mobile World Congress (MWC) in Barcelona on Sunday. Prior to that, the company had only revealed audited revenue figures for the past three years in its IPO prospectus.

Despite its flagging sales in the domestic market, the Chinese phone manufacturer witnessed a rapid surge in sales revenue in internationally. In the third quarter of 2018, it reached RMB 22.3 billion (around $3.33 billion) with an 112.7% year-on-year increase, making up 43.9% of its total revenue over that period.

“We spent 15 months becoming the Number One in the open [channel] market in Spain,” Wang said, adding that he expected Xiaomi’s global sales to quickly overtake its performance in China in terms of revenue, as globalization has been one of the company’s “major driving forces.”

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