Xiaomi Says Revenue Exceeds $16 Billion For Year 2017

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Chinese tech giant Xiaomi in a press conference held in Hong Kong announced that the company revenue exceeded 100 billion yuan ($16 Billion). Speaking during the announcement, the founder, Lei Jun said sales of its Xiaomi TV was instrumental in its revenue growth.

According to him, the first quarter of this year, Xiaomi TV sales ranked in the top three. Other products like its smart band, air purifier, chargers, and scooters are among the best sell products in China. The revenue growth sees the company continue in its year-on-year growth rate of 67.5%.

The conference also saw the attendance of the company’s co-founder Lin Bin, Li Wanqiang, Wang Chuan, Hong Feng, Liu De, CFO Zhou Chou and other. The company’s top bosses were there to take questions from both Chinese and foreign media. The revenue increase takes the company to the top position amongst internet companies.

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