The Chinese smartphone giant stepped into the global market for quite some time now and now it is creating some record numbers. Xiaomi has just released some of its achievements in the global market via infographics and via a blog.
Apart from smartphones, Xiaomi has a wide range of AIoT products that have helped the brand to create an ecosystem of its own products, ultimately increasing its revenue figures. Also, Xiaomi, despite all the Chinese concerns has excelled globally with its products and people seem to love them because of the price-to-specs offering.
Even having a modest profit margin on their products, the brand has gained a total revenue in Q2 2020 of 53.5 billion yuan (or $7.8 billion), resulting in a net profit of 3.4 billion yuan (or $494 million). The figures indicate the number of innovative products the brand is bringing is actually helping them grow over time.
Its AIoT products have excelled a lot and according to the company, 271 million of its devices are connected to Xiaomi’s IoT platform. It also says that the monthly active users for MIUI have increased from 279 million in June 2019 to 343 million in June 2020, despite the pandemic.
For Xiaomi, the smartphone market is always the primary concern and the numbers show that as well. It shipped 28.3 million units in Q2 2020, amid the lockdown and according to Canalys, in the second quarter, Xiaomi has ranked 4th globally in terms of smartphone shipments, with a market share of 10.1%.
Xiaomi has a two brand strategy when it comes to smartphones, its Mi brand focussing on the premium segment, while its sub-brand Redmi focussing on budget and mid-range products. The brand has excelled globally, shipments of its premium smartphones, with a retail price of €300 or more (mid- to high-end), went up by 99.2% YoY in Q2 2020.
Xiaomi’s new 5G flagship smartphones, Mi 10, Mi 10 Pro, and Mi 10 Ultra have shown strong sales globally and people are actually loving Xiaomi’s pricing and specs. Also with their Redmi brand, they have made 5G more accessible to the masses. Their budget Redmi 9A or the mid-range Redmi K30 Ultra with 5G have helped the brand increase sales as well.
The Chinese brand has excelled in another big market i.e. the Smart TV market that is growing steadily over time. Their Mi TVs are globally being appreciated and recently Xiaomi has also stepped into the premium Smart TV segment with the likes of Mi TV Master Series and Mi TV Lux. Xiaomi’s global TV shipments amounted to 2.8 million units with healthy yearly growth.
Not only in Asian markets like India, Indonesia, but Xiaomi is also gaining a healthy smartphone market share in Europe as well. It ranked first in Spain for two consecutive quarters, second in France, and fourth in Germany and Italy in Q2 2020. Overall, despite the global pandemic, Xiaomi’s “Smartphone x AIoT” strategy is helping them grow globally.
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