Xiaomi reports positive revenue and profit growth for 2020

Xiaomi reported solid revenue and profit growth for 2020 across all business segments. This is due to its "Smartphone x AIoT" core strategy.

Xiaomi shows growth in 2020 despite the pandemic

Xiaomi's 2020 total revenue totals approximately USD 37.6 billion

The growth is both in smartphones and AIoT industry

In 2020, Xiaomi's total revenue for the year amounted to CNY 245.9 billion (around USD 37.6 billion) which is an increase of 19.4 percent YoY. The company has an adjusted net profit of CNY 13 billion (around USD 1.99 billion) which is an increase of 12.8 percent YoY.

In Q4 2020 alone, Xiaomi's revenue reached CNY 70.5 billion (around USD 10.8 billion) which is an of 24.8 percent YoY. The adjusted net profit for this period was CNY 3.2 billion (around USD 490 million) representing an increase of 36.7 percent YoY.

324 millions units connected to Xiaomi's AIoT platform

According to Canalys, in Q4 2020, Xiaomi maintained its rank as the 3rd smartphone brand in terms of unit shipments with a market share of 12.1 percent. Xiaomi's smartphone revenue in 2020 reached CNY 152.2 billion (around USD 23.3 billion) with 146.4 million units shipped. It also sold 10 million units of its premium smartphones globally.

Xiaomi attributed this success to its execution of the "Smartphone X AIoT" strategy. In terms of IoT and lifestyle products, Xiaomi's revenue reached 67.4 billion (around USD 10.3 billion) which an increase of 8.6 percent YoY. In Q4 2020, it got CNY 21.1 billion (around USD 3.2 billion) which is an increase of 8 percent YoY. Globally, Xiaomi smart TVs reached 12 million units shipped.

Also, Xiaomi's revenue from overseas markets increased 34.1 percent YoY to CNY 122.4 billion (around USD 18.7 billion) which is accounting for 49.8 percent of its total revenue. Xiaomi promises to further increase its investment in R&D to continue its pursuit to provide cutting-edge tech.

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