Xiaomi financial report from 2021 – profitability with impressive growth of 70%

Xiaomi financial report from 2021 – profitability with impressive growth of 70%

Xiaomi financial report from 2021 – profitability with impressive growth of 70%

News unit EMGblog.com : Company Xiaomi has recently announced the financial results of 2021 in the form of a report published. According to this report, Xiaomi’s income last year with an annual growth of 33.5% amounted to 328.3 billion Chinese yuan, which is almost equal to 51.6 billion US dollars at the current exchange rate. 22 billion yuan ($3.45 billion) of this amount was the company’s net profit in 2021, which has grown by about 70 percent compared to 2020’s net profit. Xiaomi’s breaking record in the global supply of smartphones, significant growth in the supply of advanced phones and increasing influence in markets outside of China are among the success factors of this company in 2021.

Xiaomi sees its flexible business model as an important factor in the success of this series (despite the challenges of the global economy in 2021). Last year, Xiaomi shipped 190.3 million smartphones to the global market, a 30 percent increase over the same period last year. It’s not bad to know, according to Canalys research institute, with 14.1% of the global market share, Xiaomi will be the third smartphone supplier in the world in 2021 (after Samsung and Apple)

In the meantime, by continuing its overseas policy, Xiaomi showed that it is literally a global brand and its scope of activity is not limited to China. According to a recent report, Xiaomi’s revenue from the sale of its products in markets outside of China increased by 33.7% to 163.6 billion yuan last year. In other words, 49.8% of Xiaomi’s total revenue in 2021 came from markets outside of China. It should be noted that this income growth is not only related to the supply of smartphones, but also includes other products (including Internet of Things devices). It is interesting to know that Xiaomi’s income from Internet business outside China reached 5 billion yuan in 2021 with a staggering 84.3% growth (compared to 2020).

Thanks to Xiaomi’s strong presence in foreign markets, with the growth of the smartphone supply In Europe, the Middle East, Africa, Latin America and Asia/Pacific, there will be fierce competition between Xiaomi and other brands in the regional markets. According to the Canalys report, Xiaomi – in terms of smartphone shipments – has the first rank in 14 countries and is among the top 5 brands in 62 countries. Also, Xiaomi managed to occupy 22.5% of the European smartphone market in the past year, taking the second place in this market. Needless to say, the supply of Xiaomi smartphones in Latin America and Africa has also grown by 94 and 65.8 percent, respectively, and in both markets, Xiaomi is known as the third largest smartphone seller.

One of the notable achievements of Xiaomi in 2021 is the increase in the production of advanced and expensive Xiaomi phones. Last year, Xiaomi’s high-end smartphone shipments (priced at 3,000 yuan and above in China and 300 euros and above in other regions) exceeded 24 million units (ie 13% of all Xiaomi smartphones in 2021). Compare this figure with the release of about 10 million of these devices in the same period of the previous year (that is, only 7% of the total smartphones released by Xiaomi in 2020).

Xiaomi, for example, to the smartphone series Xiaomi 12 pointed out that thanks to powerful hardware and innovative technologies, only a little later Since its launch, it has become one of the most popular high-end smartphones. So that according to Xiaomi’s claim, within 5 minutes after the official launch, the sales of this product exceeded 1.8 billion yuan. Apparently, Xiaomi’s dual brand policy has worked in the smartphone market. In confirmation of this article, Xiaomi points to the high sales of Redmi K50G and Redmi K50G Mercedes-AMG Petronas Formula One Team Edition phones. According to Xiaomi, only one minute after the official release of these two products (in February 2022), their sales reached more than 280 million yuan.

Xiaomi 12

Another interesting strategy of Xiaomi “smartphone × artificial intelligence of things” named has it. According to a recent report, the total number of devices connected to Xiaomi’s AIoT platform reached 434 million devices as of December 31, 2021, with a year-on-year growth of 33.6% (not including Xiaomi smartphones, tablets, and laptops). In the meantime, users whose number of connected devices in Xiaomi’s AIoT platform is 5 or more devices has reached 8.8 million people with a growth of 40.4% (again excluding smartphone, tablet and laptop users). It should be noted that in December 2021, the monthly active users of AI Assistant reached 107 million people (23.3% annual growth) and the monthly active users of the Mi Home App increased to 63.9 million people (42% annual growth).

In the field of audio and video equipment and other home appliances, Xiaomi has a good position. According to a recent report, despite the overall market stagnation in 2021, Xiaomi managed to introduce 12.3 million smart TV devices to the global market last year. The report of the All View Cloud Institute indicates that Xiaomi is the first smart TV supplier in China for the third consecutive year and is among the top 5 brands globally.

Xiaomi’s large smart home appliance range – which includes appliances such as air conditioners, refrigerators And that includes washing machines—we’ve seen strong growth in the past year, seeing an increase of more than 60 percent in revenue from sales of these products. The global supply of Xiaomi air conditioners in 2021 has reached 2 million units with a remarkable growth of 70%. It should be noted that the revenue generation of Xiaomi’s IoT and lifestyle products in 2021 reached 85 billion yuan with a growth of 26.1%.

The income of Xiaomi’s internet service business in 2021 amounted to 28.2 billion yuan, which has grown by 18.8% compared to the same period of the previous year. In December 2021, we saw a 28.4% increase in MIUI monthly active users to 508.9 million people. More precisely, in 2021, about 112.5 million monthly active users were added to MIUI, of which 18.9 million live in China. In December 2021, the monthly active users of Xiaomi smart TVs grew by 29% compared to 2020, and the number of paid TV subscribers reached 4.9 million people with an annual growth of 14.5%.

Xiaomi officials spent 13.2 billion yuan on research and development last year, which is a 42.3% increase compared to 2020. According to Xiaomi’s plans, more than 100 billion yuan will be allocated to research and development in the next 5 years. Xiaomi launched its robotics laboratory in 2021 and unveiled its first robot named CyberDog Engineering Explorer Edition – whose design was inspired by a real dog.

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