Xiaomi beat its 100 billion yuan ($15.8 billion) revenue target for 2017 before the end of the year, a top executive at the Chinese electronics firm has told CNBC.
In January 2017, CEO Lei Jun said the company was aiming for 100 billion yuan of sales in the year, a target that was met with ease.
"Yes, we achieved our target successfully even in October, November time," Wang Xiang, senior vice president and head of the international business at Xiaomi, said during an interview that aired Monday.
Wang did not disclose how much the company made in revenue last year, or its target for 2018, but struck an optimistic tone in the interview, which took place ahead of the start of Mobile World Congress in Barcelona, Spain.
"We can do much more than a 100 billion RMB in 2018," Wang said.
Last year was the first time in the company's history that it earned 100 billion yuan in revenues in a year, a welcome turnaround for a company that struggled in 2016.
Xiaomi is often dubbed the "Apple of China." It began life as a smartphone maker offering high-spec devices at substantially lower price points than the competition. But in 2016, Xiaomi faced intense competition from other low-cost rivals such as Oppo and Vivo.