Xiaomi posts 12.8% YoY increase in profits in 2020, shipped 146.4 million smartphones, up 17.5% YoY

Xiaomi has reported its earning for the fourth quarter (Q4 2020) and the whole financial year of 2020 that ended December 31, 2020. It reported revenue of 245.9 billion yuan (US$ 37.57 billion) for FY 2020, an increase of 19.4% compared to FY 2019. Revenue from overseas markets increased 34.1% year-over-year to 122.4 billion yuan, accounting for 49.8% of total revenue. Net profit for year 2020 was approximately 13.478 billion yuan. Adjusted net profit (Non-IFRS Measure) was 13.0 billion yuan, up 12.8% YoY.

Xiaomi’s smartphone revenue amounted to 152.2 billion yuan for the year, up 24.6% year-over-year. In 2020 it shipped 146.4 million units, up 17.5% year-over-year. In 2020, Xiaomi sold approximately 10 million premium smartphones globally with retail prices at or above 3,000 yuan in mainland China and 300 Euros, or equivalent, in overseas markets. Due to increased sales of premium smartphones, Xiaomi’s smartphone ASP increased by 6.1% to 1,040 yuan in 2020.

Mi 11 shipments surpassed 1 million units in the first 21 days following its release. Redmi Note 9 series shipments crossed 30 million units globally between its debut on March 12, 2020 and December 31, 2020.

  • Revenue from IoT and lifestyle products segment reached 67.4 billion yuan up 8.6% year-over-year. In 2020, global shipments of Xiaomi’s smart TVs reached 12.0 million units, shipments of  AI speakers exceeded 10 million units while those of Wi-Fi routers exceeded 15 million units.
  • As of December 31, 2020, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 324.8 million units, up 38.0% YoY.
  • In December 2020, the MAU of MIUI increased by 28.0% year-over-year to 396.3 million while the MAU of MIUI in mainland China reached 111.0 million.
  • In January 2021, the MAU of MIUI in mainland China further climbed to 114.5 million as the Group’s mainland China smartphone shipments continued to grow.
  • In December 2020, MAU of smart TVs and Mi Box reached 40.9 million representing an increase of 48.0% year-over-year. As of December 31, 2020, the number of paid TV subscribers increased by 14.4% year-over-year to 4.3 million.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram