27 February 2020

Xiaomi now third largest e-commerce operator in China

Chinese smartphone maker Xiaomi Inc. is now the country’s third-largest e-commerce operator in terms of sales volume, next only to Alibaba Group and Inc., China Business News reported Wednesday, citing industry data.

Online sales through its own website now account for 70 percent of the company’s overall revenue, with the rest contributed by China’s three telecommunication operators as well as international markets, co-founder Li Wanqiang was quoted as saying.

During its “Mi Fan Festival” held Tuesday, Xiaomi recorded online sales of more than one million units for 1 billion yuan (US$161.54 million), the report said.

To cope with the large orders, Xiaomi has set up warehouses in 10 major cities, including Beijing, Shanghai, Shenzhen and Guangzhou, along with those in the Shenzhen bonded area and Taiwan, the report said.

Sales surpassed 11 million units in the first quarter of 2014. For this year, the company targets sales of 60 million units or 80 billion yuan, and aims to double that amount in 2015, co-founder Lei Jun was quoted as saying.

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