Xiaomi posted postive H1 2019 results, to launch its second 5G phone

Xiaomi has announced that it has achieved postive H1 2019 earnings results. The company credited its success to its new "Smartphone + AIoT" dual-engine strategy in January.

H1 2019 results

Strong numbers!

The company's total revenue for H1 2019 is CNY 95.7 billion which is equivalent to 20.2 percent of YoY growth. The adjusted net profit of the company is CNY 5.7 billion or 49.8 percent YoY growth.

Strong numbers

The total revenue of Xiaomi for Q2 2019 is CNY 52 billion that is equivalent to 14.8 percent of YoY growth. The adjustment net profit of the firm during the said period is CNY 3.6 billion or 71.7 percent YoY growth.

The total cash and assets of the company that they will use for future growth are CNY 51.1 billion. In Philippine peso, that amount is equivalent to PHP 378,416,542,980 (straight conversion).

Xiaomi also announced that 196 million smart devices are now connected to its platform as well.

The company also shipped 60 million units to be ranked number 4 globally. Xiaomi also has an increase in revenue in the medium-to-high-end market of phones versus Q1 2019. It is up from 3.3 percent to 8.1 percent.

Xiaomi also has the top growth rate in phones in Western Europe.

During the Xiaomi Corporation H1 2019 results announcement, the company also said that its second 5G smartphone after the Mi MIX 3 5G will be launched in China soon.

Rumors said that it could be the 5G version of the Xiaomi Mi 9 with Qualcomm X50 5G modem.

Source: Xiaomi