The Singles’ Day shopping festival debuted on Tuesday with the Chinese retailer Alibaba selling around $2 billion worth of goods in just one hour of sale. Within a few hours of time, the retailer managed to reach a milestone of $6 billion.
Not only Alibaba, several other retailers and other companies have also made huge numbers on November 11. The tech manufacturer, Xiaomi has made some really impressive numbers on Single’s Day sale.
As revealed by Xiaomi Global’s Vice President, Hugo Barra in a tweet, the company managed to sell over 1.16 million Mi smartphones worth ¥1.56B (US$ 254M) in 24 hours. He added that the firm reached $16 million worth of sales in less than 5 minutes. In 2013, for the Single’s Day sale Xiaomi made $90 million of sales on the full day and this record was broken in just few hours this time.
Furthermore, after 12 hours of sale, Xiaomi has revealed that it has sold 720,000 units of Mi phones that are worth $163 million on the whole. Also, a report by TechCrunch came up with a break up of the numbers shared by Hugo Barra claiming that the manufacturer made 720,000 by midday comprising of 250,000 units of the current flagship device, Mi 4, 460,000 units of Redmi and 25,000 of Mi TVs.
Earlier this week, there was a report claiming that Xiaomi was in plans to make about $1.5 billion in the fifth round of financing. TheChinabased brand has shipped approximately 18 million smartphones in the last quarter that ended with September 2014 that is an 18 percent increase from the previous one.
Going by an earlier report, the merchants were under pressure as Alibaba’s Tmall forced them to boost the day’s sales figures with heavy discounts. Merchants revealed that there was no compulsion to participate in the shopping festival, but those who did were asked to take up the only discount option of 50 percent or higher.
