After Oppo and Vivo, now Xiaomi has also filed its India revenue details for the last financial year 2017-18. The company according to the details filed with Registrar of Companies (RoC) made Rs 230.6 billion (Rs 23,000 crores) in total, which is a jump of 175 percent in year-on-year revenue. Recently, BBK Electronics’ Oppo and Vivo had also filed their India revenue details which combined for the FY18 was Rs 23,173 crores.
The Chinese consumer electronics major, Xiaomi, forayed into Indian market with smartphones in 2014. The company has since then introduced products in various electronics categories such as wearables, home entertainment and more. According to the latest report from analytics firm Counterpoint Research, Xiaomi has dominance in smartphone segment in the country with a market share of 27 percent. Samsung comes in second with 23 percent, while Vivo, Micromax and Oppo make up the rest of the top five.
Last financial year (2016-17) sales for Xiaomi India were of Rs 83.8 billion (Rs 8,300 crores) and it had a net profit of Rs 1.64 billion (Rs 164 crores). Now according to new figures of the FY18 (via Business Standard), Xiaomi’s India unit profit has jumped to Rs 2.93 billion (Rs 293 crores).
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As for the other Chinese players in Indian market, BBK Electronics Corporation is the second largest company to have a bigger chunk of sales revenue in the Indian market in FY18. BBK owns Oppo, Vivo and OnePlus, but only the combined India revenue of Oppo and Vivo puts the company on to the second position. Last year FY 17 sales of BBK-owned brands devices had added up to Rs 14,343 crores.