Xiaomi announces $216 billion revenue

In a Chinese press release we just received, phone maker Xiaomi has just announced that it generated a revenue of CN¥13.27 billion or about $2.16 billion in the first half of 2013. This easily exceeds the company's CN¥12.6 billion or $2.05 billion revenue from the entirety of 2012, so things are already looking good ahead of the annual event on August 16th, when multiple products are expected to be launched -- including a TV that got leaked last month.

CEO Lei Jun said that this is partly thanks to the 7.03 million Xiaomi Phones his company sold within the same period, and the release also praised the popularity of the Xiaomi Box plus various other accessories, such as the new in-ear headphones launched recently. In addition to that, Xiaomi now has 20 million users from around the world as of end of June, 14.22 million of which come from mainland China, Hong Kong and Taiwan. The latter two became part of Xiaomi's larger scope in April this year, with Hong Kong using the classic online retail model, and Taiwan doing the same but also selling devices through a partnership with local carrier Far Eastone.

Despite the surprising good announcements, Lei reminds his team at today's celebration party to "forget about the results, they're not the most important," and that "only making products that make users scream can bring in long-term value." The real challenge now is to tap into the more exotic markets, and Xiaomi has previously expressed great interest in Europe. Good luck with that, Lei!

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Xiaomi announces $2.16 billion revenue in 1H 2013, beating the entire 2012