Xiaomi India crosses $1 billion in revenue in 2016

The announcement came shortly after Xiaomi said it sold more than one million smartphones in the country in 18 days and over two million smartphones for the first time in third quarter of 2016, with nearly 150 per cent year-on-year growth.

The announcement came shortly after Xiaomi said it sold more than one million smartphones in the country in 18 days and over two million smartphones for the first time in third quarter of 2016, with nearly 150 per cent year-on-year growth.

Xiaomi India on Thursday announced that it has crossed $1 billion in revenue in 2016 within the first two years of its operations in India -- making it a first in the domestic industry.

The announcement came shortly after Xiaomi said it sold more than one million smartphones in the country in 18 days and over two million smartphones for the first time in third quarter of 2016, with nearly 150 per cent year-on-year growth.

"This achievement is a great motivation for us to deliver even more high-quality, disruptive products in the coming year," said Manu Jain, India Head, Xiaomi, in a statement.

Redmi 3S and Redmi Note 3 are contributing significantly to the online smartphone market with nearly 50 per cent market share among top 10 phones in the country, the company said.