Xiaomi had a pretty great Singles Day on Tuesday in China. The company sold 1.16 million smartphones as a part of the sale in the country, in turn making 1.56 billion yuan ($254 million), which is over 2.8 times of the company’s revenue of 550 million yuan generated as a part of Singles Day in 2013.
This is an impressive performance for Xiaomi, which as per IDC had sold 17.3 million smartphones in whole of Q3, 2014.
To remind you, November 11 (11/11) is known as Singles Day (anti-Valentine’s day or bachelors day) in China and has become the biggest online shopping day of the year in the recent times. Online retailers offer huge discounts on products as part of the Singles Day sale and it has become even bigger than United States’ Cyber Monday and Black Friday sales.
Among other firms, which had a good Singles Day, Alibaba generated $9.3 billion in gross merchandise value (GMV) on November 11, 2014.