Xiaomi Sells $335 Million Worth of Phones in 12 Hours


According to Recode, The Fast-growing Chinese phone maker Xiaomi said Wednesday that it broke its own flash-sale record, selling more than two million phones in a 12-hour period as part of a “Mi Fan Festival.”

Xiaomi Sells $335 Million Worth of Phones in 12 Hours

The effort, to celebrate the company’s fifth anniversary, generated roughly $335 million in revenue.

In addition to the phones, Xiaomi said it sold 38,000 televisions, 200,000 fitness bands and 247,000 power strips — a sign the company is gaining traction in efforts to expand beyond its core business. The company is now testing services, including a mobile wallet.

The company was selling in more markets this year, with Malaysia, India and Indonesia all additions from last year’s event.

For all of last year, Xiaomi sold 61 million smartphones and had revenue of 74.3 billion RMB ($11.98 billion), becoming the No. 3 smartphone player in the world and top brand in China.