Xiaomi Group has just announced the results obtained during the entire year 2019. We speak of revenues in the fourth quarter of 2019 for 56,5 billion yuan (7 billion euros), an increase of 27,1% on an annual basis, which made a new quarterly turnover record for Xiaomi. While the total annual turnover for the year exceeded 200 billion yuan (25 billion euro) for the first time, with an increase of 17,7% on an annual basis.
Xiaomi in 2019: Revenues of over ¥ 200 billion and more than 125 million smartphones sold
Adjusted net profit was 2,3 billion yuan (300 million euros) in the fourth quarter, an increase of 26,5% over the previous year, and 11,5 billion yuan (1,45 billion euros) for the entire year 2019, with an increase of 34,8% on an annual basis. At the end of 2019, Xiaomi reached a liquidity of 66 billion yuan (8,4 billion euros).
At the same time, Xiaomi is constantly increasing investment in research and development. In 2019, the investment in research and development was 7,5 billion yuan (around 1 billion euros) and is expected to exceed 10 billion yuan (around 1,2 billion euros) in 2020. The compound growth rate of research and development investments over the past four years is 53%.
2019 is the first year in which Xiaomi launched the "dual-engine" strategy, ie smartphone + AIoT. Revenues from AIoT activities and consumer products amounted to 62,1 billion yuan (6,9 billion euros), an increase of 41,7% on an annual basis.
The turnover of the Xiaomi smartphone sector for the whole year was 122,1 billion yuan (16,8 billion euros), with 125 million units shipped and the position among the top four companies in the world as regards the market share. Furthermore, in the fourth quarter of 2019 we saw growth of 30,5% on an annual basis and this is expected to continue in 2020.
As for smart TVs, Xiaomi has exceeded 10 million units sold, becoming the first TV brand in China to exceed 10 million units sold in a year and was the first brand in market share for four consecutive quarters. While global shipments reached 12,8 million units, an increase of 51,9% on an annual basis. It ranks fifth globally, among these we have the seven consecutive quarters in India in which Xiaomi dominated the market.
In the fourth quarter of 2019, the delivery time of the inventory of Xiaomi products was only 54 days and the overall net profit margin was even greater than zero and less than 1%.
As of December 31, 2019, the number of connected devices on the Xiaomi IoT platform has reached 235 million (excluding smartphones and notebooks), with an increase of 55,6% on an annual basis. The number of users with five or more IoT products reached 4,1 million, an increase of 77,3% on an annual basis. In addition, the number of monthly active users using the "XiaoAI" intelligent voice assistant exceeded 60 million in December 2019, an increase of 55,7% on an annual basis.
The revenue for Xiaomi's Internet services in 2019 was 19,8 billion yuan (2,5 billion euro), an increase of 24,4% on an annual basis and MIUI's global monthly active users reached 310 million, an increase of 27,9% on an annual basis.
In foreign markets, Xiaomi's revenues in 2019 were 91,2 billion yuan (11,6 billion euros), with an increase of 30,4% on an annual basis (this is also the first time it has exceeded $ 10 billion).
Xiaomi Mi Air 2
Xiaomi has entered over 90 countries and regions and the smartphone business ranks among the top five in over 40 countries and regions. Of these, shipments to India held first place for ten consecutive quarters, with a share of around 29%.
According to Canalys data, shipments of Xiaomi smartphones to western Europe increased by 115% on an annual basis in the fourth quarter of 2019, of which 66% on an annual basis in Spain, which bring Xiaomi to a market share of 23 %. While in France and Italy, shipments have increased by 70% and 206% respectively.
