Xiaomi Corporation has announced its unaudited consolidated results for the three and six months ended June 30, 2021.
According to the report, the company’s total revenue amounted to RMB 87.8 billion, representing an increase of 64.0% year-over-year (YoY). Meanwhile, its adjusted net profit for the period was RMB 6.3 billion, an increase of 87.4% YoY.
Total revenue and adjusted net profit both reached record highs in the quarter demonstrating the excellence of the business model and the robustness of its operations.
Q2 2021 financial highlights:
- Total revenue at RMB87,789.0 million, up 64.0% YoY
- Gross profit at approximately RMB15,148.1 million, up 96.7% YoY
- Non-IFRS adjusted net profit was RMB6,321.5 million, up 87.4% YoY
1H 2021 financial highlights:
- Total revenue at RMB164,671.2 million, up 59.5% YoY
- Gross profit at approximately RMB29,309.4 million, up 92.1% YoY
- Non-IFRS adjusted net profit was RMB12,390.8 million, up 118.4% YoY
“During the second quarter of 2021, our core ’Smartphone × AIoT’ strategy continued to underpin our outstanding performance. Looking forward, we will continue to execute our dual-brand strategy, boost investments in advance technology, recruit and foster talents and upgrade channel capabilities, enhance our premium smartphone offerings and improve user experience. We will also remain committed to our core ‘Smartphone × AIoT’ strategy, working fervently to advance innovations in sophisticated and cutting-edge technologies across product categories. We will also continue enhancing connectivity between our smartphones and IoT products to deliver a seamless user experience across our range of products, bringing a better life to everyone in the world.”
Global smartphone shipments ranking rose to No.2
The smartphone revenue of Xiaomi amounted to RMB 59.1 billion in the reporting period with an 86.8% YoY. According to Canalys, Xiaomi’s global smartphone shipments ranked No. 2 for the first time in the second quarter with a market share of 16.7%.
In mainland China, its smartphone shipments grew to 16.8% from 10.3% in the same period last year, according to Canalys. This allowed the company to rank third with a 35.1 YoY increase in smartphone shipments.
Core ‘Smartphone x AioT’ strategy drove outstanding performance
In Q2 2021, IoT and lifestyle products segment increased to RMB 20.7 billion with a 35.9% YoY. Global shipments of smart TV’s surpassed 2.5 million units maintaining a leading market position.
The number of connected IoT devices on the group’s AioT platform reached 374.5 million units as of June 30, 2021. This represents a 34% YoY increase.
Revenue from internet services reached a record high
Revenue from Xiaomi’s internet services amounted to RMB 7.0 billion representing an increase of 19.1% YoY. The group’s internet user base continued to expand rapidly and reached an all-time high in the second quarter of 2021.
In Q2 2021, overseas internet services revenue amounted to RMB 1.1 billion, representing an increase of 96.8% YoY. Overseas internet services revenue accounted for 15.6% of the total revenue from internet services revenue in this quarter.