Xiaomi hits 1 billion revenue mark in India during 2016

Xiaomi brand is going more and more strong in the Indian smartphone market. The Chinese smartphone maker has announced that its revenue in the country crossed $1 billion, around 6,800 crores in 2016, achieving the milestone within two years of starting its operations in India.

Xiaomi says that it is the first smartphone company in the country to cross $1 billion in revenue in such a short period of time. The company has already captured 10.7 percent share in the Indian smartphone market taking the third spot. Currently Samsung leads the smartphone segment followed by Lenovo & Motorola in the country.

According to Xiaomi, citing IDC report, Redmi Note 3 was the highest shipped smartphone, with more than 2.3 million units sold in six months. The Redmi 3S, Redmi 3S Prime and Redmi Note 3 were the #1 bestselling deices during Flipkart's Big Billion Days sale and Amazon's Diwali Shopping Festival last year. These three phones together also accounted for close to 50 percent of market share in the online smartphone market among the top 10 smartphones in the country.

Now all eyes are on the Redmi Note 4, which will launch in India soon. However, it will be receiving tough competition from Huawei's Honor 6X, another Chinese smartphone brand that is doing well in the Indian market. The Honor 6X is also expected to launch later this month.

While Xiaomi is enjoying its success in India, the same cannot be said about its home market China. The company has been struggling to brands like Oppo, vivo and Huawei, who have managed to gain ground. As per IDC Q3, 2016 data, Xiaomi has a market share of 8.7 percent in China and was at number four in China's smartphone market.