Xiaomi Corp. said its smartphone shipments more than tripled in 2014, beating its expectations.
The Chinese company, which recently became the world’s most valuable technology startup, sold 61.1 million units last year, up from 18.7 million in 2013, the Wall Street Journal reported.
Sales, including taxes, more than doubled from a year earlier to 74.3 billion yuan (US$11.97 billion), the newspaper said, citing a blog post by founder and chief executive Lei Jun.
In the third quarter, Xiaomi rose to third place among global smartphone sellers, with a market share of 5.6 percent, up from 2.1 percent, according to data provider Strategy Analytics.
In the same period, industry leader Samsung Electronics Co. sold 241.5 million smartphones, followed by Apple Inc., which sold 169.2 million units, IDC figures show.
“In 2015, the smart devices playing field will become extremely competitive, especially as the growth of the smartphone industry in mainland China slows down,” Lei was quoted as saying.
He also said the company will launch its next flagship device later this month.
Xiaomi raised raised US$1.1 billion in its latest funding round last month, giving it a valuation of more than US$46 billion, including the fresh capital.
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