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"Chinese smartphone manufacturer Xiaomi has outdone itself -- by selling 18.7 million smartphones in 2013, up 160 percent from a year earlier and more than its initial target of 15 million devices. In December itself, the company sold 3.22 million smartphones.\r\n\r\nXiaomi's CEO Lei Jun announced the statistics on his Sina Weibo account today, revealing that it also hauled in total sales of CNY31.6 billion ($5.2 billion), up 150 percent from last year. This figure isn't indicative of profit, but it is still\u00A0remarkable considering that Xiaomi released\u00A0its first device as recently as 2011.\r\n\r\nDuring the whole of 2012, Xiaomi sold 7.19 million smartphones and recorded CNY12.6 billion (about $2.08 billion) of revenue.\r\n\r\nXiaomi released four smartphones in total in 2013. In April, it launched the variants of its then-flagship smartphone, the\u00A0Mi-2S and Mi-2A. Subsequently, it\u00A0unveiled\u00A0its lowest-priced phone yet in July \u2014 the $130 Hongmi. Following that, it\u00A0launched\u00A0its latest flagship Mi-3 device in September.\r\n\r\nThe company has been garnering success in mainland China by\u00A0inspiring the loyalty of many consumers, building a\u00A0fan base and launching competitively priced phones that, when released in phases, regularly sell out fast, often within minutes. In 2013, Xiaomi also notched up an\u00A0impressive\u00A0valuation of $10 billion\u00A0in its latest funding round.\r\n\r\nLei Jun has stated that the company expects to ship 40 million smartphones for the whole of this year.\r\n\r\nHeadline image via Xiaomi"^^<http://www.w3.org/2001/XMLSchema#string>
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