<p>Chinese smartphone giant Xiaomi Inc. today said the company sold a whopping 61.12 million smartphones in 2014, up 227 per cent year on year.</p>.<p> Total sales revenue with tax reached 74.3 billion yuan (USD 12 billion) up 135 per cent year on year, company founder and CEO Lei Jun said in an open email to his employees.<br />Sales of the brand expanded to six countries and regions over the past year, including India, Malaysia, Singapore and the Philippines.<br /><br />Xiamoi ran into trouble in India after brisk sales following a lawsuit filed by Ericsson for violation of its patents.<br /><br />The company, headquartered here, was valued at USD 45 billion in the new round of financing late December, state-run Xinhua quoted Lei as saying.<br /><br />The announcement comes as the company released its new model, Redmi 2, today for sale in China for 699 yuan (USD 113), considerably cheaper than its other models.<br /><br />Xiaomi, which means "millet" in Chinese, was founded in April, 2010 by Lei and his friends in Zhongguancun, Beijing's technology hub which has been called "China's Silicon Valley".<br /><br />Xiaomi's first smartphone made its debut in August, 2011.</p>
<p>Chinese smartphone giant Xiaomi Inc. today said the company sold a whopping 61.12 million smartphones in 2014, up 227 per cent year on year.</p>.<p> Total sales revenue with tax reached 74.3 billion yuan (USD 12 billion) up 135 per cent year on year, company founder and CEO Lei Jun said in an open email to his employees.<br />Sales of the brand expanded to six countries and regions over the past year, including India, Malaysia, Singapore and the Philippines.<br /><br />Xiamoi ran into trouble in India after brisk sales following a lawsuit filed by Ericsson for violation of its patents.<br /><br />The company, headquartered here, was valued at USD 45 billion in the new round of financing late December, state-run Xinhua quoted Lei as saying.<br /><br />The announcement comes as the company released its new model, Redmi 2, today for sale in China for 699 yuan (USD 113), considerably cheaper than its other models.<br /><br />Xiaomi, which means "millet" in Chinese, was founded in April, 2010 by Lei and his friends in Zhongguancun, Beijing's technology hub which has been called "China's Silicon Valley".<br /><br />Xiaomi's first smartphone made its debut in August, 2011.</p>