Xiaomi announced that the company reached a total revenue of CNY 205.8 billion in Q4 2019. The company believes that this due to its technological innovations.
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| Xiaomi's total revenue reaches CNY 205 billion in Q4 2019 |
Xiaomi's huge 2019 growth
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| Xiaomi YoY growth |
Reaching CNY 205.8 billion in total revenue indicates a 17.7 percent YoY growth for the company. In terms of adjusted net profit, Xiaomi achieved CNY 11.5 billion which is a 34.8 percent YoY growth.
According to Xiaomi, this is mainly due to its pursuit of the "Smartphone + AIoT" dual-engine strategy in 2019.
According to Xiaomi, this is mainly due to its pursuit of the "Smartphone + AIoT" dual-engine strategy in 2019.
In 2020, Xiaomi will move to its "5G+AI+IoT" roadmap wherein they plan to increase the company investment by CNY 50 billion over the next 5 years.
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| Xiaomi IoT platform figures |
Currently, there are 235 million IoT devices connected to Xiaomi's IoT platform which indicates a 55.6 percent YoY growth. Also, there a 4.1 million users with 5 or more devices connected to the platform which is a 77.3 percent YoY growth. Lastly, there are 60 million mostly active users of Xiaomi's AI assistant.
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| Xiaomi's overseas revenue |
In terms of smartphones, Xiaomi recorded revenue of CNY 122.1 billion. There were 125 million global shipments of Xiaomi smartphones which is good enough to put the brand at rank 4 globally. 2019 Q4 smartphone shipments also grew by 30.5 percent YoY.
In terms of IoT and lifestyle products, Xiaomi saw a 41.7 percent YoY growth. Xiaomi's Smart TVs reached 12.8 million global shipments which translate to 25 percent YoY growth.
This made Xiaomi number 1 ranked in mainland China and 5th globally for TV shipments. It is also the number 1 brand in India as well.
This made Xiaomi number 1 ranked in mainland China and 5th globally for TV shipments. It is also the number 1 brand in India as well.
46.8 percent of Xiaomi's total revenue came for the overseas market with Western Europe leading the growth. In 2019, overseas revenue total to CNY 91.2 billion which is 30.4 percent YoY growth.
Q4 2019 alone got a 40.7 percent YoY growth at CNY 26.4 billion overseas revenue.
Q4 2019 alone got a 40.7 percent YoY growth at CNY 26.4 billion overseas revenue.
What do you guys think?
Source: Xiaomi
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