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Xiaomi Corp’s Chairman Lei Jun lost 1 billion yuan in bet to Gree Electric Appliances

Xiaomi Corps Chairman Lei Jun on a television event during Dec 2013 assured that his company would make revenue more than Gree Electric Inc in next 5 years predicting that online driven world would change the world and affect its economy. Gree electric Inc made 198 billion Yuan while Xiaomi made 178 billion (20 billion lesser). Xiaomi’s market shares dropped since it established in Hongkong and it fell by 30 Percent.