The document shows that in FY17, millet revenue was 83.793 billion Indian Rupees (US $ 1.3 billion), an increase of 696% over the 10.46 billion Indian Rupee of the previous year; net profit was 1.639 billion Indian Rupees (about 25 million U.S. dollars ), A net loss of 469 million Indian rupees the previous year, fiscal year 2017 is the third year millet entering the Indian market.
India's financial results are likely to help boost millet IPO prospects, according to Reuters, Bloomberg and other media reports, millet seeking to obtain at least 500 billion in the IPO transaction valuation, 100 billion US dollars is not a Crazy numbers'.
India is the second largest market for millet after China, according to a report from market research firm IDC. In the third quarter of this year, Xiaomi's smart machine shipments have caught up with market leader Samsung Electronics.
Millet said in regulatory documents that the company's revenue from all of India's handsets, accessories, parts sales and services.Micro executives predict the company's fiscal year results will continue to improve as expected.
Given that OPPO's revenue in India also surged 754% to 79.743 billion Indian rupees last year, the total revenue of the companies in both Xiaomi and OPPO in India exceeded 2 billion U.S. dollars. Both companies surpassed the domestic smartphone market in India Opponents Micromax, Intex, and Japan's largest electronics maker, Sony Corp., have shown Chinese companies are increasingly influential in electronics.
Xiaomi has yet to comment.Mix said in an interview earlier this year that the company had revenues of $ 1 billion in calendar year 2016 and is expected to more than double this year.
Tarun Pathak, associate director at Counterpoint Research in Hong Kong, said that some of Milton's growth in the previous fiscal year was at the expense of competition, but at INR 6000 to INR 10,000 (about 93 US dollar to 155 US dollars) the main price segment, the increase in the share of millet Indian consumers mainly choose to upgrade the price of mobile phones.Patac predicts that this year's smart phone sales in India will increase by 2.5 times.
Counterpoint released a report saying that as of September of this year, Chinese companies controlled more than 50% of the Indian smartphone market, up from 33% a year ago. In the same period, the market share of Indian smartphone brands has shrunk from 33% to 14%.