Xiaomi sold 1 million units of 5G smartphones in Q1 2020

Despite the challenges presented by the Coronavirus pandemic, Xiaomi announced that its smartphone business keeps on growing.

Mi 10 series with 5G

Strong numbers despite the pandemic

Xiaomi said that its "Smartphone + AIoT dual-engine strategy continued to perform well. In fact, the company's revenue outside of China accounted for half of its total revenue for the first time.

Xiaomi achieved total revenue of RMB 49.7 billion that is equivalent to 13.6 percent YoY growth. The net profit of the company is CNY 2.3 billion or around 10 percent YoY growth.

For smartphones, the company achieved a revenue of CNY 30.3 billion. It has shipped 29.2 million globally which caused its market share to rise to 11.1 percent maintaining its 4th global ranking. In Q1 2020, the company's shipments increased by 4.7 percent YoY.

The company also said that its 5G business has a penetration rate of 25.9 percent in mainland China.

During the said period, Xiaomi has sold over 1 million units of the 5G Mi 10 Series flagship phones.

According to the latest data from Strategy Analytics, Xiaomi has already sold a total of 2.5 million 5G smartphones which is equivalent to 10.4 percent of the 5G smartphone market share.

Apart from smartphones, Xiaomi is strengthening its AIoT platform portfolio. It has a steady growth in both IoT and lifestyle products.

Source: Xiaomi