Xiaomi just had a very successful quarter

Xiaomi’s total revenue and adjusted net profit for the first quarter of 2021 exceeded market expectations of 76.9 billion yuan (up 54.7% year-on-year), while adjusted net profit adjusted to 6.1 billion yuan (up 163.8 percent over the same period last year).

Xiaomi “integrated” fashion and technology in the launch event of Mi 11 lite and Mi 11 lite 5G in Vietnam in mid-April. Xiaomi (stock code: 1810) has just announced the unaudited consolidated results of the first three months of the year to March 31, 2021. In the first quarter of 2021, total adjusted revenue and net profit exceeded market expectations. In which, total revenue in the period reached 76.9 billion yuan, up 54.7% over the same period last year, while adjusted net profit reached 6.1 billion yuan, up 163.8 percent over the same period last year. last. Regarding the smartphone business, this quarter continued to record a remarkable growth rate. Smartphone sales reached 51.5 billion yuan, up 69.8% year-on-year. Global smartphone shipments in the period reached 49.4 million units and gross profit margin reached 12.9%. According to Canalys, Xiaomi continues to hold the third position in terms of smartphone shipments, accounting for 14.1% of the global market share. Notably, the premium smartphone portfolio is increasingly diversified, contributing to Xiaomi’s strong growth in this segment. In the first quarter of the year, Xiaomi shipped more than 4 million phones priced over 3,000 yuan in China and over 300 euros in international markets. In addition, third-party data shows that Xiaomi accounted for 16.1% of the market share of smartphones priced between 4,000 yuan and 6,000 yuan in China in the first quarter of 2021, far ahead of 5.5% in the first quarter of 2020. Meanwhile, Xiaomi’s core strategy of “Smartphone x AIoT” continues to underpin outstanding performance. IoT and lifestyle products saw strong business performance with revenue up 40.5% year-on-year to 18.2 billion yuan. Also in this quarter, the number of Xiaomi smart TVs sold reached 2.6 million units. According to All View Cloud (AVC), the number of TVs shipped ranked first in China for nine consecutive quarters and was always in the top five globally. In particular, widescreen smart TVs are well received by the market. AVC said that Xiaomi and Redmi TVs continue to take the No. 1 position in retail sales in the 70-inch TV segment in China with 29% market share, retail sales increased by more than 160% over the same period. last year. The group’s IoT and lifestyle product segment is also following a hot growth trajectory in the international market. Revenue from IoT and lifestyle products in overseas markets increased by 81.1% over the same period last year. The products of electric vehicles, air conditioners, Mi Box receivers … of Xiaomi have penetrated widely into families. Xiaomi is increasingly expanding its AIoT platform. As of March 31, 2021, the number of IoT connected devices (excluding smartphones and laptops) on the AIoT platform has reached 351.1 million units. The number of consumers owning at least 5 devices connected to the AIoT platform (excluding smartphones and laptops) reached 6.8 million, up 48.9% over the same period last year. In March 2021, Xiaomi’s AI Assistant had 93.0 million monthly users, while the number of monthly Mi Home software users reached 49.2 million, up 22.8% year-on-year. The Group’s Internet services segment continued to grow steadily with revenue increasing 11.4% year-on-year to 6.6 billion yuan in the first quarter of 2021. Gross profit margin of the services segment Internet reached 72.4%. Advertising revenue hit a quarterly record of 3.9 billion yuan, up 46.3% year-on-year. Also in the first quarter of 2021, Xiaomi’s revenue from overseas markets increased by 50.6% year-on-year to 37.4 billion yuan. According to Canalys, Xiaomi’s market share in the first quarter was in the Top 5 smartphone companies in terms of number of shipments in 62 countries and territories globally, in particular, taking the No. 1 position in 12 countries and regions. earth. Xiaomi has positioned itself to compete in key markets. According to Canalys, this quarter Xiaomi entered the Top 2 smartphone companies for the first time in Europe, with smartphone shipments increasing by 85.1% year-on-year and 22.7% market share. Notably, Xiaomi has held the No. 1 throne in Eastern Europe for 2 consecutive quarters, with smartphone shipments increasing by 81.8% over the same period last year, accounting for 32.5% of the market share. The group was also ranked 1st in Russia for the first time with 32.1% market share. Xiaomi still maintains the 3rd position in Western Europe with market share increasing to 16.6%, after smartphone shipments increased by 89.3% over the same period last year. The group ranked No. 1 in Spain for 5 consecutive quarters, achieving 35.1% market share. Also, promoted to No. 2 in Italy; 3 in Germany and France, and broke into the top 5 for the first time in the UK, all with over 90% growth in phone shipments compared to the same period last year. Most impressively, Xiaomi maintained the No. 1 position for 14 consecutive quarters in India, capturing 28.3% of the market share. The group is on a strong growth path when conquering new markets…