After raising US$1 billion from its latest funding, Xiaomi is now the third largest smartphone company in the world.

It sold 61.12 million phones in 2014 and posted revenues of US$11.97 billion. This year, CEO Lei Jun expects to sell more.

China's tech giant sold 7.2 million devices in 2012 and 18.7 million in 2013. This clearly shows the company's sales doubled each year. In just four years, the company proved its rapid growth and was branded the world's biggest technological start-up.

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Xiaomi initially focused on establishing its name in China and has beaten Samsung to the top spot in countrywide sales. It's now known as the "Apple of China".

But the brand's success isn't only limited locally. It has also penetrated overseas markets.

"This year, we will enter even more overseas markets. We believe everyone in the world would appreciate the opportunity to enjoy technology innovation," said Lei Jun.

These plans of expanding globally have already started. Xiaomi entered seven markets outside mainland China, including Hong Kong, Taiwan and India.

Last year, Xiaomi also expanded into India. The first few months were successful despite legal tussles against Ericsson that resulted in a sales ban against Xiaomi. Recently, Xiaomi was temporarily allowed to sell certain phone models in India.

The company is planning to set up ecommerce operations and partnerships with different start-ups in India. Lei Jun also announced the company's upcoming flagship device.

Tagsredmi 1s, xiaomi india, Lei Jun, Xiaomi Mi4, xiaomi mi5, xiaomi taiwan, erricson