Xiaomi Targets 2013 Sales of 15 Mln Smartphones
Sohu IT, 3/06/13
Lei Jun, founder and CEO of Beijing-based Android handset developer Xiaomi, announced that Xiaomi will produce 15 mln handsets in 2013, planning on a quick turnaround with no overstock.
Hans Tung, a partner at Qiming Venture Partners and investor in Xiaomi, previously revealed that Xiaomi saw net profit margin is 10% and net profits of over RMB 1.2 bln from handset sales in 2012, exceeding the profit margins of other domestic handset vendors such as ZTE (0763.HK; 000063.SZ), Huawei, and Lenovo (0992.HK)
Editor's Note: For more background on this topic, please see "Xiaomi Sells 7 Mln Smartphones in 2012" MD 1/08/13 issue.
Keywords: sales target Lei Jun Hans Tung profit wireless Xiaomi smartphone
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