Xiaomi has released its financial results for the past year and the numbers look impressive. On a year-on-year basis, the Chinese giant’s profits increased substantially, and smartphone shipments rose 17.5% to 146.4 million units. Half of the company’s revenues now come from overseas markets.
Special attention in the report is given to premium smartphones and MIUI proprietary shell. In 2020, Xiaomi sold about 10 million such devices, while the number of active MIUI users exceeded 400 million. It is important to understand that the company refers to the premium smartphones as devices costing from 3 thousand yuan (approximately $ 460) in China or from 300 euros abroad.
Thanks to the increase in smartphone shipments, Xiaomi has been able to climb to the third place in the list of the largest mobile device manufacturers in the world. As the last year proved to be extremely unfavorable for Huawei, Xiaomi was able to meet most of the demand for smartphones and increase domestic shipments 51.9% compared to a year earlier.
While the company’s total revenue was over 245 billion yuan (about $ 37.4 billion), only 152 billion yuan (about $ 23.2 billion) came from smartphone sales (62%). The remaining 93 billion yuan (about $ 14 billion) comes from other products, of which Xiaomi has a huge variety, from towels and toothbrushes to smart TVs and laptops.
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