Xiaomi has announced its financial results for 2020, and the numbers look absolutely stellar. Profit increased on an annual basis, while smartphone shipments rose 17.5% to 146.4 million units. Also half of the company’s revenue now comes from the overseas market.
Xiaomi claimed to have sold approximately 10 million “premium” smartphones in 2020, while monthly active MIUI users are now over 400 million. Xiaomi considers premium phones to cost 3,000 CNY or more in China, or 300 euros and more abroad, so take that number with a little salt.
Excerpts from Xiaomi’s annual report on Twitter
Due to the increase in the number of phone shipments, Xiaomi managed to climb to the third largest smartphone manufacturer in the world. Since the year was not favorable for Huawei, the company Mi managed to pick up most of the demand for phones and increased domestic shipments by 51.9% compared to last year.
More to take from the Xiaomi report
One interesting removal from Xiaomi’s financial report is that while total revenue was over CNY 245 billion ($ 37.4 billion), only CN2 was $ 152 billion / $ 23.2 billion (about 62%) from smartphones and the other CNY93 billion / $ 14 billion is from its large portfolio of other products from towels to smart TVs.