Xiaomi announces a 70% year-on-year increase

Xiaomi Corporation has released its audited consolidated results for the fiscal year ending December 31, 2021, revealing that the firm had good yearly growth. In 2021, Xiaomi’s overall sales for the year was RMB328.3 billion (RM217.89 billion), up 33.5 percent year on year, while adjusted net profit was RMB22.0 billion, up 69.5 percent year on year, with both yearly measures above expectations.

Xiaomi’s worldwide smartphone shipments increased by 30% year on year in 2021, reaching 190.3 million units. According to Canalys, Xiaomi’s smartphone sales will rank third worldwide in 2021, with a record-high market share of 14.1%.

Xiaomi’s abroad business grew rapidly last year as the firm continued to pursue its international strategy. In 2021, its sales from abroad markets reached RMB163.6 billion, up 33.7% year on year and accounting for 49.8% of total revenue. Aside from smartphones, the international internet and IoT markets are expanding rapidly. Overseas internet sales reached RMB5.0 billion in 2021, up 84.3 percent year on year and accounting for 17.8 percent of total income.

According to Canalys, Xiaomi’s market share of smartphone shipments was the highest in 14 countries and regions, and it was in the top five in 62 countries and regions worldwide. Xiaomi’s smartphone shipments in Europe placed second in 2021, with a 22.5 percent market share.

Xiaomi’s growth momentum has remained strong in emerging regions. In Latin America and Africa, its smartphone shipments increased 94.0 percent and 65.8 percent year on year in 2021, respectively, and it was the third-largest smartphone vendor in both areas.

Enhancing the carrier channel

According to Canalys, Xiaomi delivered more than 25 million smartphones via carrier channels in abroad countries (excluding India, Sri Lanka, Nepal, and Bangladesh) in 2021, representing a year-over-year rise of more than 120%. Its smartphone market share through carrier channels ranked third in 34 international countries, with carrier channel market share in Europe expanding from 7.9% in 2020 to 16.8% in 2021.

Competitors in the premium smartphone market

Xiaomi’s dual-brand strategy advanced thanks to the company’s consistent commitment to premiumization. Xiaomi’s customer base has continued to diversify as a result of the company’s precise product and marketing strategy.

Xiaomi’s worldwide sales of smartphones with retail prices of RMB3,000 or above in mainland China and EUR300 or higher in abroad markets topped 24 million units in 2021, greatly exceeding the roughly 10 million units we sold in 2020. According to the business, premium smartphone shipments as a proportion of overall sales climbed from about 7% in 2020 to around 13% in 2021.

Xiaomi’s foreign sales of smartphones with retail values of EUR300 or above surged by more than 160 percent year on year in 2021. According to Canalys, Xiaomi placed third in the world in terms of foreign sales of premium smartphones with retail prices of USD350 or above in 2021, demonstrating that Xiaomi’s drive to premiumisation is paying off.

According to the company, the Xiaomi 12 series quickly became one of the most popular premium smartphones following its introduction, thanks to its hardware and unique technology. Its omni-channel sales surpassed RMB1.8 billion within 5 minutes of its introduction.

Meanwhile, it said that Redmi will continue to provide cutting-edge technology to the general market and provide the best user experience across a wide range of devices. Within the first minute of release in February 2022, sales of the Redmi K50G and Redmi K50G Mercedes-AMG Petronas Formula One Team Edition surpassed RMB280 million. Simultaneously, Xiaomi has continued to consolidate its offline channel in mainland China, as it has become a more major player in premium smartphone shipment growth.

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