In the city of Beijing, China – August 26, 2021 – Xiaomi becomes the number 1 brand smartphone in the world according to Counterpoint Research, an achievement everyone gets caught off guard. And now, Xiaomi boasts its unstoppable revenue and growth in 2021 Q2, a very solid number that beating estimates.
Based on the reports, Xiaomi has a total revenue amounted to ~PHP 677.03 billion. It represents an increase of 64% YoY; adjusted net profit for the period was ~PHP 48.58 billion, an increase of 87.4% YoY. Both the total revenue and adjusted net profit reached record inclines in Q2. The numbers demonstrate the superiority of the business model and the boldness of its operations. Not only that, its gross profit is at approximately ~PHP 116.8 billion, up 96.7% YoY, while its non-IFRS adjusted net profit was ~PHP 48.7 billion, up 87.4% YoY.
In addition, between April and June 2021, Xiaomi shipped 52.6 million smartphones or 86.8% more than Q2 2020. Its global smartphone market share reached 16.7%, making the company the second-biggest maker in the world. Although Xiaomi is still behind Samsung and ahead of Apple. Also, 12 million premium smartphones were shipped by Xiaomi – most of the smartphones retail at or Yuan 3,000 or PHP 23,133.27.
It is also worth remembering that in the Q2 of 2021 financial announcement of the company, Xiaomi Corporation said, “During the second quarter of 2021, our core ‘Smartphone × AIoT’ strategy continued to underpin our outstanding performance. Looking forward, we will continue to execute our dual-brand strategy, boost investments in advance technology, recruit and foster talents and upgrade channel capabilities, enhance our premium smartphone offerings and improve user experience. We will also remain committed to our core ‘Smartphone × AIoT’ strategy, working fervently to advance innovations in sophisticated and cutting-edge technologies across product categories. We will also continue enhancing connectivity between our smartphones and IoT products to deliver a seamless user experience across our range of products, bringing a better life to everyone in the world.”
And now since that investment in the IoT products, Xiaomi has gained 35.9% yearly. The number of users with five or more devices connected to the AIoT platform, which excludes smartphones and laptops, reached 7.4 million, representing a YoY increase of 44.5%.
According to Canalys, Xiaomi’s market share in Q2 ranked among the top 5 in 65 markets globally and number 1 in 22 markets, 10 out of the 22 markets reached the top spot for the first time.
This is indeed a robust growth of the company—we really want to congratulate Xiaomi for taking the spot where they are now. I guess all of us Mi Fans made a huge role in helping Xiaomi take the spot and prepare the red carpet to dominate the market going to Q3.
Above all, we are excited to know what numbers Xiaomi will boast in Q3.