Xiaomi reports great sales and profit growth in the 2nd quarter of 2021

Xiaomi Corporation has released its unaudited consolidated results for the second quarter of 2021, which concluded on June 30, 2021, demonstrating its business performance across all segments.

Xiaomi’s total revenue was RMB 87.8 billion in the second quarter of 2021, an increase of 64.0 percent year on year; adjusted net profit was RMB 6.3 billion, an increase of 87.4 percent year on year. Total revenue and adjusted net profit both hit new highs in the third quarter.

Xiaomi smartphone revenue was RMB 59.1 billion in the reporting quarter, marking an 86 percent growth year on year. Global smartphone shipments totaled 52.9 million devices, a rise of 86.8 percent year over year.

According to Canalys, Xiaomi ranked second in worldwide smartphone shipments for the first time in the second quarter, with a market share of 16.7 percent. It increased to 16.8 percent from 10.3 percent in the second quarter of 2020 in mainland China, placing third with a 35.1 percent year-over-year rise in smartphone shipments.

Furthermore, Xiaomi’s loT and lifestyle product business sustained momentum in the second quarter of 2021, with revenue climbing 35.9 percent year on year to RMB 20.7 billion. Worldwide shipments of smart TVs topped 2.5 million units, allowing the company to maintain its position in the global market.

Furthermore, Xiaomi’s internet services totaled RMB 7.0 billion, a record high according to the company, indicating a 19.1 percent growth year on year.

In terms of products and services, Xiaomi maintained consistent development in the overseas market, with revenues increasing 81.6 percent year on year to RMB 43.6 billion, accounting for 49.7 percent of total revenue. According to Canalys, Xiaomi’s market share in the second quarter was among the top five in 65 markets worldwide, and number one in 22.

According to Xiaomi, they have always placed a premium on talent development, retention, and motivation, which is why they want to cultivate top management talent and reward them with entrepreneurial incentives to secure the company’s long-term growth.

“Throughout the second quarter of 2021, our core ‘Smartphone AIoT’ strategy continued to support our exceptional performance. In the future, we will continue to implement our dual-brand strategy, increase investments in advanced technology, attract and develop talent, and upgrade channel capabilities, as well as expand our premium smartphone offers and improve user experience. We will also continue to pursue our fundamental ‘Smartphone AIoT’ strategy, working tirelessly to promote advancements in sophisticated and cutting-edge technology across product categories. We will also continue to improve connectivity between our smartphones and IoT goods in order to provide a consistent user experience throughout our product portfolio, offering a better life to everyone around the world,” Xiaomi Corporation stated.

Via: YugaTech

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