Subscribe For Free

Xiaomi reports revenue and profit growth in Q2 results

Saf Malik
August 26, 2021

Smartphone becomes the world’s number two vendor according to Canalys

Xiaomi’s Q2 results have revealed a revenue increase of 64 per cent year-on-year and a 96.7 per cent increase in gross profit.

Total revenue amounted to RMB87.8 billion and adjusted net profit RMB6.3 billion in the second-quarter results.

For the first half of the year, Xiaomi’s total revenue was up 59.5 per cent to RMB 164,671.2 million while gross profit was at approximately RMB29,309.4 million, up 92.1 per cent year-on-year.

A spokesperson for Xiaomi said: “During the second quarter of 2021, our core ’Smartphone × AIoT’ strategy continued to underpin our outstanding performance.

“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.

“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.

Number two

Xiaomi’s global smartphone shipment ranking rose to number two for the first time in Q2 with a market share of 16.7 per cent according to Canalys.

Meanwhile, the company’s market share in mainland China rose to 16.8 per cent from 10.3 per cent.

In Q2 the IoT and lifestyle products segment maintained significant growth, increasing 35.9 per cent year-on-year.

Global TV shipments surpassed 2.5 million units and its TV shipments ranked number one in mainland China for the 10th consecutive quarter.

Share this article