Although profits collapsed at times
Huami is known for its Amazfit smartwatch and Mi Band activity trackers, which it produces exclusively for Xiaomi. Huami today released an unaudited financial report for the first quarter of the fiscal year 2020.
Amazfit watches and Xiaomi Mi Band bracelets are so popular that Huami boosted revenue even during a pandemic
For three months, Huami’s company revenue amounted to $ 153.7 million, which is 36.1% more than a year earlier. The gross margin was 22.5%. Despite a considerable increase in revenue, operating profit fell 3.8 times to $ 2.9 million, and net profit more than fourfold to $ 2.5 million.
During the quarter, Huami delivered 7.6 million devices to the Amazfit and Mi Band families. The report also said that the Mi Band 5 model will be released later this year, but did not give an exact date for Huami.