Xiaomi announced its earnings for the first quarter of 2021 which ended on March 31, 2021, showing impressive performance in all areas.
ΣIn particular, the company presented revenue of 76,9 billion yuan (US $ 12,03 billion), recording that is one increase of 54,7% compared to the first quarter of 2020, while the net profit (Non-IFRS) rose to 6,1 billion yuan, recording one increase by 163,8% from year to year.
The company pointed out that both revenue and net profit reached the highest record ever achieved per quarter. Revenue from overseas markets increased by 50,6% year on year to 37,4 billion yuan.
Revenue from Xiaomi smartphones reached 51,5 billion yuan for 2020, an increase of 69,8% year on year. In the first quarter of 2021 the company sold 49,4 million Smartphones knowing an increase of 69,1% on an annual basis. Also Xiaomi during the same period, sold about 4 million premium smartphones worldwide with retail prices at 300 euros.
Xiaomi's market share for smartphones with prices ranging between 4.000 and 6.000 yuan in mainland China increased to 16,1% in the first quarter of 2021 compared to 5,5% in the first quarter of 2020.
- Revenue from IoT and LifeStyle products reached 18,2 billion yuan, up 40,5% year on year. In the first quarter of 2021, Xiaomi's global smart TV shipments reached 2,6 million units, while the company's revenue from IoT and LifeStyle products in overseas markets increased by 81,1% year-on-year.
- As of March 31, 2020, the number of connected IoT devices (excluding smartphones and laptops) on the AIoT platform has reached 351,1 million devices.
- The number of users with five or more devices connected to the AIoT platform (excluding smartphones and laptops) reached 6,8 million, representing an annual increase of 48,9%.
- The average number of connected TVs and Mi Box increased by 34,0% on an annual basis for the same quarter.
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