Companies News

Startup aims to double revenue in 2018

XGIMI, a Chengdu-based startup offering home theater projectors, aims to double revenue to 3 billion yuan (US$476.2 million) this year as the company taps booming demand arising from consumption upgrade and sets it sights to grow internationally from this year.

The revenue target this year will be an increase from 1.3 billion yuan in 2017, the startup said. In the first quarter of this year, Xgimi’s revenue jumped 101 percent year on year.

Xgimi, which sells products in 127 countries and regions, has also identified globalization as the firm’s core strategy this year, Zhong Bo, chairman and CEO of Xgimi, added.

Xgimi plans to work with Google and Amazon to boost overseas sales, which will take up half in the long term and 10 percent in 2018, he said.

Xgimi also said it would cooperate with Baidu to establish an artificial intelligence lab to offer conversational AI services to provide customized services for users.
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