Xiaomi just announced its financial results for 2020, and the numbers are pretty amazing. The company increased its profit every year. Smartphone shipments increased by 17,5% to 146,4 million units. Interestingly, half of the company's revenue comes from abroad. This is a striking milestone for Xiaomi, especially in a year where sales and production have been heavily impacted by the COVID-19 pandemic.
The Chinese giant claimed to have sold around 10 million premium smartphones in 2020. MIUI's monthly active users now exceed 400 million. Xiaomi is considering premium phones priced at 3 yuan and above in China, or 000 euros and above in overseas markets. For this reason, we need to take this number with a grain of salt.
Xiaomi has become the third largest smartphone manufacturer
Thanks to this increase in the supply of premium phones, Xiaomi has become the third largest smartphone manufacturer in the world. This will come after a year that has not been very favorable for Huawei. The Chinese behemoth was on the verge of becoming the world's largest smartphone maker, but the US ban changed the future. Mi managed to smooth out most of the phone demand and increased its domestic shipments by 51,9% year-on-year.
Interestingly, Xiaomi's total revenue was over 245 billion yuan ($37,4 billion), with only 152 billion yuan ($23,2 billion) coming from smartphones. The other 93 billion yuan ($14 billion) is accounted for by a huge portfolio of other products. Xiaomi has towels, smart speakers, electric bikes and smart TVs. In the future, the company will add electric cars to this range of products.
Xiaomi now has a huge presence in overseas markets with its Mi phones and sub-brands. The company is responsible for the sales of Redmi and POCO in overseas markets, and when the numbers of these phones hit these lines every quarter, we expect the numbers to be even higher.
Xiaomi Mi 11 series coming soon, Mi MIX is back
On March 29, Xiaomi is set to hold a big event where it will unveil the other devices that make up the Mi 11 family. The company will unveil the Mi 11 Pro, Mi 11 Ultra and Mi 11 Lite. The brand is also rumored to be showing off its new Mi MIX 4, which is likely to return as a foldable smartphone.
The brand has already confirmed the release of the Mi 11 series in India very soon. With the company directly mentioning the “Mi 11 series” in the tweet, we are sure that more than one device will make it to the Indian market.
We are almost sure that the company's future flagships and the first foldable smartphone will help satisfy even more users. The company has enough resources to become the new Huawei.
