Xiaomi records solid financial performance in Q2 2021

Xiaomi Corporation witnessed a strong financial performance in the second quarter of 2021 driven by its smartphone business.

File photo: Mi 10

Xiaomi enjoys strong financial status in January-June

In a statement issued Thursday, the company said total revenues in the April-May period surged by 64 percent to RMB 87.8 billion. Gross almost doubled to RMB 15.148 billion in the period.

Revenues from Xiaomi's smartphone segment amounted to RMB 59.1 billion, up by 86.8 percent, after it secured the second spot in the global smartphone shipments.

Looking forward, we will continue to execute our dual-brand strategy, boost investments in advanced technology, recruit and foster talents and upgrade channel capabilities, enhance our premium smartphone offerings and improve user experience.

The numbers

Its market share was at 16.7 percent. Its global smartphone shipments also soared by 86.8 percent to 52.9 million units.

The group boasted that its "Smartphone x AIoT" strategy continued to propel its growth for 2021.

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, Xiaomi said.

Buoyed further by the second quarter, the first-half status was also solid with revenues at RMB 164.67 billion, a 59.5 percent increase year-on-year. Gross profit also jumped 92 percent to RMB 29.309 billion.

In the month of June, Xiaomi bested Samsung as the world's top mobile maker for the first time ever.

Will Xiaomi's success continue?