Xiaomi, which is just 4-year-old, has become the No.1 smartphone brand in China. The company’s VP Hugo Barra confirmed via Twitter that the sales have generated a revenue of $254 million with 1.16 million Mi units sold. Xiaomi on Monday was reported to be planning to raise about $1.5 billion in its fifth round of financing. The Chinese brand had shipped roughly 18 million smartphones in the third quarter, an increase of 18 percent from the previous quarter.

Single’s Day is a big thing in China. I know, you have NEVER heard about it. But that doesn’t make it significant. In fact, on Single’s Day, Aliexpress.com sold nearly twice as much as online retailers in the US score during Black Friday sales. And then, there’s Xiaomi. The fast-growing Smartphone maker sold 1.16 million handsets in a single day. Can you believe that? The numbers were made official by none other than Hugo Barra, who revealed in his tweet that the revenue generated from the sale of these Smartphones is an outstanding $254 million.

Indian Air Force IAF Asks Its Personnel Not To Use Xiaomi Redmi 1s Phones

Yesterday, it was Singles Day in China – a holiday on the opposite spectrum of Valentine’s Day, it’s a day in which young people celebrate their bachelor lives. And what better way to do it than have massive shopping sprees? Indeed, Singles Day has turned into something like Black Friday and Cyber Monday combined – retailers sell items at deep discounts and shoppers attack the websites, eager to get a bargain on something they have been craving for, or something they wouldn’t otherwise buy.

Xiaomi has announced that it has sold 1.16 million Mi smartphones in just 24 hours in China, generating a revenue of $254 million. This number is 2.8 times over the company’s revenue of 550 million yuan generated as a part of Singles’ Day in 2013. This is quite a phenomenal performance by Xiaomi, which according to IDC has sold over 17.3 million smartphones in the whole of Q3, 2014.

Xiaomi, naturally, took part in the sale, and yesterday, when half of the day had passed, VP of International Hugo Barra announced that “the Mi” had sold 720,000 handsets, tallying up to a $163 million value, in 12 hours – and that the sales were still going strong.