We have said it and repeated it several times, Xiaomi's growth is not just about the smartphone business, but also on more or less technological gadgets and accessories mainly managed by the Mijia brand. The brand is born mainly as the Xiaomi's smart home and IoT gadget platform, generally launched through crowdfunding campaigns that include all the products other than smartphones. Mijia represents for Xiaomi the hen with the golden eggs and as the Chinese technology giant himself has revealed, today sales under the Mijia brand have exceeded 20 billion yuan (about 2,5 billion euros).
This figure to di poco monumental represents a huge increase in the company's revenue. Also last year Xiaomi had revealed that the Mijia brand had recorded impressive sales figures, even if the total revenue generated had not been disclosed. Xiaomi dominated the wearable device market for two consecutive years with revenues of up to 1,5 billion yuan (about 192,5 million euros) but also other products such as action cameras, IoT gagdet and much more contributed to the company's impressive turnover.
This year we have seen over a hundred products launched under the Mijia brand and many of these are products typically sold online only. Therefore, the volume of financial revenue could be even higher if the combination of Xiaomi's marketing strategy in using multiple channels was realized in 2018. We just have to see if Xiaomi will make public the details about the breakdown of turnover of individual products.
