Under Jain’s watch, Xiaomi has crossed $1 billion in revenue in India and is set to cross the $2-billion mark soon. So far, Xiaomi and its sister company, Shunwei Capital, has backed 10 internet start-ups in India, with the most recent being investments in ShareChat and KrazyBee. “We have smart scooters, we have smart cycles, smart water purifiers, weighing scales, smart cookers, smart shoes, etc.—people keep talking about these products and asking when we will launch them in India. Xiaomi, which entered India in 2014 and tripled revenues from India over the past 12 months, accounted for 25% of smartphone shipments in the December quarter, according to research firm IDC—making it the biggest smartphone vendor in India, ahead of Samsung. While the company has emerged as the top smartphone brand in India over the past two quarters, Samsung remains the biggest smartphone firm in India on an annualized basis.

Source: Mint March 11, 2018 19:07 UTC