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. Continue reading “Xiaomi posts 12.8% YoY increase in profits in 2020, shipped 146.4 million smartphones, up 17.5% YoY”