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Xiaomi records large European smartphone growth as wider business holds firm throughout pandemic

Jasper Hart
September 3, 2020

Mobiles slightly down globally but overall business saw growth

Xiaomi’s European smartphone sales saw large growth in Q2 2020, despite a global decline.

The manufacturer noted a 65 per cent year-on-year increase in smartphone sales in the continent, citing statistics from analyst firm Canalys. This gave it a market share of 16.8 per cent, putting it in the top three smartphone vendors in Europe for the first time.

In Western Europe, smartphone shipments grew 116 per cent, giving Xiaomi a 12.4 per cent market share. As a result of this growth, Xiaomi ranked first in Spain, second in France, and fourth in Germany for smartphone market share.

The company recorded 28.3 million global smartphone shipments, a decline from 32.1 million units the year before. Revenue from these sales reached RMB31.6 billion (£3.48 billion), a decline from RMB32.0 billion (£3.52 billion).

An 11.8 per cent annual increase in its smartphones’ Average Selling Price (ASP) helped offset shipment decline, as it saw increased sales of its premium tier devices.

Xiaomi’s flagship Mi 10 and Mi 10 Pro flagships sold one million devices worldwide within two months of their launch.

Globally, Xiaomi’s total revenue for the quarter hit RMB53.5 billion (£5.89 billion), an increase of 3.1 per cent annually. Adjusted profit stood at RMB3.37 billion (£371 million), down 7.2 per cent year-on-year but up by 46.6 per cent quarterly. Xiaomi attributed the growth to strong TV shipments and advertising sales.

In a statement, the company said: “In the first half of 2020, despite the impact of COVID-19 and great global uncertainties, Xiaomi’s diversified business ecosystem has demonstrated its resilience, as both revenue and adjusted profits beat market consensus, while our operations continued to expand.”

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