Beijing time December 7th noon news, because sales volume increased 7 times, the India branch of Xiaomi has realized the profit in the fiscal year ended March 2017, indicating that local consumers prefer the Chinese smart phone with high quality and low price.
According to the India economic times website, the company said the company would have better performance in the fiscal year. The sales of Xiaomi India company increased by 696% in the 2017 fiscal year, reaching 83 billion 793 million India rupee (about 8 billion 580 million yuan), and net profit was 1 billion 639 million India rupee (about 170 million yuan). A year ago, the revenue was 10 billion 462 million India rupees, with a net loss of 469 million rupees in India.
The financial performance of the India market is expected to help the company's IPO, and they may then be looking for at least $50 billion in valuations.
For millet, India is the second largest market second only to China. According to the measurement of market research company IDC, the company shipped more than Samsung in India from July to September this year, becoming the first in India market.
In fact, millet and Oppo added more than $2 billion in revenue in India, which increased by 754% in revenue last year to the 79 billion 743 million India rupee.
Both companies are more than the largest mobile phone manufacturers in India, Micromax and Intex, and the largest mobile phone manufacturer in Japan.SONYThe subsidiary in India shows the rapid growth of Chinese manufacturers in the electronic field.
Millet India branch has not yet comment on this. In an interview before the company, the company said they had achieved $1 billion in revenue over the past year, and it is expected to more than double this year.
According to Counterpoint Research, by the end of this September, Chinese companies controlled more than half of the India smartphone market, only 33% a year ago. The share of local manufacturers in India has shrunk from 33% to 14%.