Almost all financial reports are about huge numbers, which is not surprising as the company continues to grow year on year. But now, the first report has set a record for the first quarter of 2021!
In the first quarter of 2021, Xiaomi's total revenue and adjusted net profit far exceeded market expectations. For the period, sales revenue was 76.9 billion yuan, net
and a profit of 6.1 billion yuan, corresponding to a year-on-year increase of 54.71T$3T and 163.81T$3T respectively.
Key financial indicators for the first quarter of 2021:
- Total sales 76.9 billion yuan, with annual growth of 54.7%;
- Gross profit is about 14.2 billion yuan, with annual growth of 87.4%;
- The non-IFRS adjusted net profit is 6.1 billion yuan, with an annual increase of 163.8%.
In the first quarter of 2021, Xiaomi's smartphone business grew strongly, as in previous quarters. Sales increased by 69.8 percent to 51.5 billion yuan
in annual turnover. Worldwide, Xiaomi shipped 49.4 million devices last quarter, with a gross margin of 12.9 percent for the smartphone business. A
According to market researcher Canalys, the Group maintained its 3rd place in the global smartphone market in terms of devices shipped, with a market share of 14.1 percent.
Xiaomi's revenue from foreign markets grew by 50.6 percent in a year to reach 37.4 billion yuan. According to Canalys, Xiaomi was one of the top five mobile phone makers in 62 countries and the market leader in 12 countries and regions in the first quarter of this year, based on market share and number of devices shipped.
Sales of IoT and lifestyle products grew 40.5 percent to reach 18.2 billion yuan in the first quarter of this year. Xiaomi's smart TVs sold 2.6 million units
worldwide. According to All View Cloud ("AVC"), Xiaomi has been the market leader in China for the ninth consecutive quarter, and the top five TV manufacturers in the global market
in the first quarter of this year. The company's large-screen smart TVs are particularly popular in the market. Xiaomi's AIoT platform has also delivered strong results, with the number of connected smart devices reaching 351.1 million on 31 March 2021. The number of users with five or more devices connected to the company's AIoT platform was 6.8 million, an increase of 48.9 percent.
The Xiaomi Corporation commenting on the results, he said.In the first quarter of 2021, both our total revenue and adjusted net profit reached record levels, which we
proves that the business model we have chosen is sound and can be put into practice with great efficiency. The strong growth in smartphone sales has led to a significant increase in the user base for our products. In parallel, the AIoT platform has continued to grow worldwide. In addition to the good progress in our existing businesses, we continue to explore new market opportunities for our company, with the aim of broadening our business horizons. In March 2021, we unveiled our new brand vision and announced our entry into the electric vehicle market. This promises to be an exciting new business that will give us the opportunity for further growth over the coming decade.“
