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Xiaomi announces the best economic results ever: 3-digit growth!

Xiaomi today announced its record revenue and income results profits for the first quarter of 2021. There is no doubt, it was the best time in spite of the pandemic and the chip crisis. A historical moment like this has never been encountered by companies of any kind, as they found themselves fighting on the one hand against the lack of processors, on the other hand pandemic in continuous evolution. However, Lei Jun's brand has placed another brick on its pyramid of successes. Let's go and see the results in detail.

Xiaomi still grows: published the economic results of the first quarter of 2021. Growth of 163%, never seen such a thing!

Mel report published today on its official website, Xiaomi announces that it has broken its previous record in terms of revenues. The company has in fact achieved a net profit of 163% compared to the previous year. Never seen such a great result. Specifically, the company's total turnover was approximately 76.9 billion yuan € 10 billion at the exchange rate. This means 54.7% increase on an annual basis, while the adjusted net profit for the period was 6.1 billion yuan, with a increase of 163.8% on an annual basis.

xiaomi growth economic results

The brand stated:

During the first quarter of 2021, both our total revenue and adjusted net profit reached record levels, demonstrating the strength of our business model and the effective execution of our strategies. Solid growth in smartphone shipments has driven a continued expansion of our global user base.

Our AIoT platform has continued to climb the mountain around the world. In addition to solid growth in our existing business lines, we are also continuing to explore new opportunities and broaden our horizons. In March 2021, we unveiled our new brand identity [refers to the new logo] and we also announced our official entry into the electric vehicle industry, setting the stage for an exciting journey that will ensure a bright future for the company over the next decade..

From the words we read, most of the revenues come from the IoT section and not from that of smartphones. In fact, it is fair to remember that Xiaomi is not just a simple company that produces mobile devices. In its portfolio we find products of all kinds, also thanks to forge of companies that we often find on YouPin, the well-known crowdfunding platform.

This is a milestone that is added to the one achieved at European and world level that we have talked about poco time ago. Global smartphone shipments in the period reached 49.4 million units and the margin of profit gross for the smartphone business was 12.9%. According to Canalys, Xiaomi held the 3rd position in terms of smartphone shipments globally during the quarter, registering a 14.1% market share.

xiaomi growth in the world with record revenues

But returning to the strong point, namely the IoT sector, here are some data. In the first quarter of 2021, the Group's main strategy "Smartphone x AIoT”Continued to support his outstanding performance. The IoT and lifestyle product segment performed well with revenues in Increase of 40.5% year over year to 18.2 billion yuan, equivalent to Approximately € 2 billion. The data refer to the global market, but what about the foreign one, therefore also the European one?

Revenues from IoT products and in overseas markets are increased by 81.1% year-over-year in the quarter. The Group's electric scooters, air purifiers, Mi Boxes and other products have retained their widespread popularity. What else to say. Day after day Xiaomi continues to put one brick on another to get to the top of the pyramid. Companies like Samsung e Apple Lossless Audio CODEC (ALAC), they might see the throne snatched in poco less than three years if the company continues at this pace.

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Last updated on March 29, 2024 6:40

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Gianluca Cobucci
Gianluca Cobucci

Passionate about code, languages ​​and languages, man-machine interfaces. All that is technological evolution is of interest to me. I try to divulge my passion with the utmost clarity, relying on reliable sources and not "on the first pass".

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