Η Xiaomi just released it its financial report for the first half of 2019 and the numbers are very good.
ΣRevenue was CNY 95,71 billion ($ 13,56 billion), up 20% from the first half of last year, according to the report. Net income was CNY 5,72 billion ($ 810,36 million), up 49,8% year-on-year.
Examining total shipments, Xiaomi managed to sell more than 60 million units in the same period despite the stagnation of the global market.
But in addition to smartphone sales, Xiaomi TV proved to be a huge success, as the company topped the list in China with 5,4 million units for the same period, and is now a leading TV maker in the world.
Xiaomi CEO Lei Jun said he was pleased with the company's performance. and commented that Xiaomi will promote its commitment to 5G and IoT, while increasing R&D (research and development) spending. In terms of investment, Xiaomi's R&D expenditure was CNY 3,3 billion ($ 467,44 million), up 30% from last year.
Xiaomi has IoT solutions running on 196 million devices worldwide. Revenue from Internet services increased to CNY 8,8 billion ($ 1,25 billion), an improvement of 108% over the first half of 2018.
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