Xiaomi is a smartphone company in China that sells products like the Mi3, Mi-2, and the Hongmi. Xiaomi has sold over 220,000 smartphones within three minutes since the company’s Singles Day sales began yesterday. Xiaomi generated a total of RMB 300 million at the end of the day, which is around $49.24 million. Alibaba’s Tmall recorded revenues of $500 million on Singles Day within the first twenty minutes and their Taobao mobile app generated around $100 million in sales under an hour. Singles Day is often considered the Chinese equivalent of Cyber Monday.