Popular Chinese smartphone manufacturer Xiaomi recently held the Mi Fan Festival 2014, an annual event celebrating the company’s birthday and to thank its millions of fans. During this year’s event a 12-hour marathon sale was held across China, Hong Kong, Taiwan, and Singapore. The results of the sales are pretty impressive as 1.3 million smartphones were sold earning the company revenue of 1.5 billion Yuan or an estimated US$242 million.
Xiaomi co-founder and President Lin Bin announced in his Facebook page that “2014 mi fan festival just ended. We have sold a total of 1.3 million phones in 12 hours, with total revenue of over RMB ¥1.5 billion. Over 130k phones were sold in Taiwan, Hong Kong, and Singapore combined. Big thanks to all mi fans over the world. Love you all. See you next year!”
Statistics from the Xiaomi Singapore Facebook page shows that
- A total of 11,514 orders with an average of 16 orders per minute
- 5154 orders for its Mi In-Ear Earphones
- Over S$1 million worth of orders in the first two rounds
- 3,600 earphones sold in the first three time slots
- Over S$2 million in sales before 6PM
This year’s celebration is quite unique since the company traditionally unveils a new product during its birthday. Instead, a flash sale was being held.
Amanda Chen, Xiaomi Global director of marketing, said that “For other companies, I think when it comes to anniversaries it’s usually about the company itself. For Xiaomi, it’s about our Mi fans. We want to please them with new products, more offerings so we held launches… but this year we hear our customers, they want more products so we have been trying to get more inventories in. We want to satisfy our fans.”
While the bulk of the sales come from mainland China the overseas market (Hong Kong, Taiwan, and Singapore) performed beyond expectations. Sales of these three markets accounted for 7.1 percent of the total revenue even if their total population is only 2.5 percent of the entire population of China.
With this impressive record can the company boost its ranking in the global bestselling smartphone list? In a recent data released by Counterpoint the Xiaomi Redmi and Mi3 are ranked 7th and 10th respectively in terms of worldwide sales.