Home theater projector startup Xgimi 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 generated 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 company’s core strategy this year, Zhong Bo, chairman and chief executive of Xgimi, added.

Xgimi plans to cooperate with Google and Amazon to boost overseas sales, which will account for half in the long term and about 10 percent in 2018, said Zhong.

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.