China’s Singles Day sale is easily the biggest shopping festival in the world, and Alibaba has already broken its previous sales records. Xiaomi’s Hugo Barra today revealed that the Chinese company too had broken its records, having raked up nearly $163 million in sales in the 12 hours.
In a Google+ post, Barra revealed that halfway through the sale, Xiaomi had sold over 720,000 Mi Phones, earning $163 million in the process. He further broke down the numbers saying that the company crossed the 100 million yuan ($16 million) in a ridiculous four minutes and 48 seconds. In four hours, the company crossed 550 million yuan ($90 million) thereby passing last year’s full day sales. As mentioned above, in 12 hours the company crossed $163 million or one billion yuan.
While Barra didn’t break down the handset numbers, TechCrunch reports that of the 720,000 devices sold in 12 hours, Xiaomi sold 250,000 flagship Mi 4 smartphones, 460,000 units of the Redmi smartphone, and 25,000 units of the Mi TVs.
Xiaomi just had one of its best ever quarters shipping 17.3 million handsets, which is a whopping 211.3 percent growth year-over-year. It is not only the top smartphone company in its home country controlling a 30.3 percent market share, it has also managed to break into the list of top-five smartphone companies of the world. It was briefly at number three just behind Samsung and Apple, before Lenovo completed its acquisition of Motorola thereby propelling it ahead of Xiaomi.
The achievement is quite impressive when you consider that Xiaomi is a relatively new company and only operates in a few markets including China and India. The company is now planning on raising about $1.5 billion in its fifth round of financing.