Xiaomi has been having a blast in the past twelve months investing in the void Huawei left in the world of smartphones.
The company has posted its quarterly results and they look greatly remarkable with a double-digit improvement in revenue, profit, phone shipments and just about every other important metric.
Between April and June 2021, Xiaomi shipped 52.6 million smartphones or 86.8% more than Q2 2020. Its global smartphone market investment reached 16.7%, making the company the second-biggest maker in the world – behind Samsung and ahead of Apple. Of the phones shipped in the first half of the year, 12 million were in the segment that costs over CNY3,000 or €300.
The company has been investing in its IoT ecosystem, and is now reaping the benefits – revenue from IoT and lifestyle products grew 35.9% yearly. There are now 374 million IoT devices, connected to Xiaomi’s platform, and that doesn’t even include smartphones and laptops. There are 7.4 million users with at least five devices with vacuum cleaners, air purifiers, humidifiers, thermostats, light bulbs and home security cameras is the most outstanding.
Overseas market is a big deal for the Chinese company, and Xiaomi proudly declared it was the top seller in 22 markets around the world, including countries like Italy and France; it also managed to keep its top spot in Spain for a sixth consecutive quarter.
Customers in many Western markets prefer to purchase a smartphone bundled with a telecom deal, and Xiaomi has revealed it enhanced its channel potentials and localization techniques, increasing sales via carrier channels by over 300% YoY.