Xiaomi to triple mobile services revenue to USD 1 bln - CEO

Monday 27 April 2015 | 09:00 CET | News
Xiaomi expects to triple its revenues from mobile services such as games and a payment application to nearly USD 1 billion this year, according to CEO Lei Jun. In an interview with the Wall Street Journal coinciding with the launch of Xiaomi's fitness band, Mi Band, Lei said the company was looking to Chinese internet giant Alibaba and mobile services firm Tencent Holdings as future competitors. "The ways that Tencent and Alibaba make money today are the ways that Xiaomi will make money in the future," he said. Last year the company made less than USD 300 million in revenue from services,

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Categories: Mobile & Wireless
Companies: Alibaba / Tencent / Xiaomi
Countries: World
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