Xiaomi also reported strong growth in premium smartphone sales, AIoT development, smart ecosystems, internet services revenue and investment in R&D
Xiaomi has announced a strong annual growth in 2021 as total revenue reached RMB328.3 billion, an increase of 33.5 per cent year-on-year.
Adjusted net profit in 2021 totalled RMB22.0 billion increasing by 69.5 pc YoY.
According to Canalys, Xiaomi’s smartphone shipments ranked no.3 globally with a record high market share of 14.1 pc, as its global smartphone shipments grew 30 pc YoY to a record 190.3 million units.
In 2021, revenue from overseas markets hit RMB163.6 billion, rising 33.7 pc YoY and accounting for 50 pc of total revenue.
Xiaomi saw growth in shipments across the Middle East, Latin America, Africa and Asia Pacific, with a 22.5 pc market share in Europe in 2021.
In Latin America and Africa, Xiaomi’s smartphone shipments grew 94 pc and 65.8 pc YoY respectively and were ranked as the third best smartphone vendor in these regions.