The last few months are all good news for Xiaomi, a company that has been doing positive exercises all over the world for several years, but now breaks records when it comes to good results. In fact the first quarter has marked a true record for the Chinese firm, both in revenue and profits.
Some results that cover the strategy of Xiaomi, which is not only based on the sale of smartphones with an attractive price and performance ratio, but also on promoting a market in full swing such as the Internet of Things and connected home.
A record first quarter
Xiaomi has announced its unaudited consolidated results that belong to the first quarter of 2021, which ended on March 31. Some results that have been especially good in all accounts. During this period the Chinese firm has achieved ones total revenue of 76.9 billion yuan, nearly 10 billion euros. This represents an increase of 57.7% compared to the same period the previous year. The net profit has also increased, nothing less than 163.8%, reaching 6.100 million yuan, almost 800 million euros.
All Xiaomi games have registered very positive results, such as gross profit, which has shot up 87.4%, reaching 14.2 billion yuan, almost 2 billion euros. In the case of benefit adjusted net, without IFRS, this has reached 6,100 million yuan, about 784 million euros, representing a large increase of 163.8%.
The company wanted to highlight that «During the first quarter of 2021, both our total revenues and our adjusted net profit reached all-time highs, demonstrating the strength of our business model and strategy. Strong growth in smartphone shipments led to an expansion in our global user base. Our AIoT platform has continued to expand around the world as well.«.
Leadership position in Spain
Some results that are extensible to the operations of the Chinese company also in Europe western and especially in Spain. On a continental level, Xiaomi occupies the third position in the sale of smartphones, with a 16.6% market share. This represents a year-on-year increase of 89.3%. Once again, Spain has given Xiaomi great joy, since its mobiles have once again been the best sellers for the fifth consecutive quarter. In Spain the market share is 35.1%. In this way, Xiaomi consolidates its dominant position in the Spanish market, with a first position that can no longer be considered the result of chance.
Of course, to the great push that the company already had in its sales in all markets, the drastic reduction in the market share of Huawei’s mobile phones as a result of the vetoes has helped a lot. The company that has best known how to take advantage of that void left by its Chinese rival has undoubtedly been Xiaomi. And very importantly, it is better positioned than its rivals also due to its powerful Internet of Things, which is one of the ones with the longest growth path in the coming years.