Xiaomi Raises 2013 Handset Sales Projection to 20 Mln Units

Sohu IT, 8/09/13

Beijing-based Android handset developer Xiaomi has raised its 2013 handset sales projection to 20 mln units due to the success of the company's newly launched "Red Rice" ("Hong Mi") low-end smartphone.

Xiaomi sold 7.03 mln smartphone units in the first half of 2013, bringing in revenue of RMB 13.27 bln. Xiaomi chairman Lei Jun had previously announced a handset sales target of 15 mln units for 2013.

Editor's Note: Xiaomi released its Hong Mi smartphone in collaboration with China Mobile (NYSE: CHL; 0941.HK). For more background on this topic, please see "Guangdong Mobile Starts Xiaomi "Hong Mi" Pre-Orders" MD 7/25/13 and "Xiaomi Partners with Qzone to Unveil New Product" MD 7/30/13 issue.

Keywords: sales volume Lei Jun handset smartphone wireless low-end sales target 0941.HK Xiaomi Xiaomi Redmi

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