Xiaomi revenue from Internet services increased by 150% in 2015

Chinese smartphone maker Xiaomi Inc. more than doubled its revenue from Internet services in 2015 to $ 564 million.

The founder and CEO of Xiaomi Inc., Lei Jun has set target revenue of $ 1 billion last year that failed to perform. Similar to companies like Apple, Xiaomi is trying to respond to the slowdown of the smartphone market by offering different internet services in order to gain more revenue.

Revenue from such services, including games and applications for mobile payments, have increased by 150% to 3.71 billion yuan ($ 563.94 million) from 1.48 billion yuan a year earlier.

As part of the internet business services, Xiaomi posted revenue of mobile games in the amount of 2.6 billion yuan for 2015, which is more than double according to the reported 1.21 billion yuan a year earlier.There has been a talk of a Xiaomi Inc. IPO in 2015, but it didn’t happen. This fast-growing tech company will not be ignored for a long time. Xiaomi launched in 2011 and today is the third largest smartphone maker in the world. Xiaomi draws attention of customers because of the low prices and attractive selling strategy. Xiaomi attracts and media because it’s said that copies Apple. Main sales are within China, but Lei Jun’s eyes are now looking to the rest of the world. The fact is that Xiaomi’s products are gaining popularity worldwide.

Assuming all above I think that Xiaomi will be an interesting to watch IPO candidate in 2016.