Xiaomi is one of the three largest smartphone manufacturers
Xiaomi has published a report for the first quarter of 2021. It says that revenue for the reporting period was approximately $ 12.0 billion. In annual terms, this indicator increased by 54.7%.
Xiaomi’s revenue and profit in the first quarter of 2021 were record-breaking
Gross profit increased by 87.4% compared to the first quarter of 2020 to approximately $ 2.2 billion.
Adjusted net income was approximately $ 0.94.6 billion, up 163.8% on an annualized basis.
A commentary to the financials said: “During the first quarter of 2021, both our total revenues and adjusted net income hit record highs for the quarter, which is evidence of the robustness of the business model and clear implementation of the company’s strategies. The meteoric rise in smartphone shipments has led to a continuous expansion of the company’s user base. Our AIoT platform continues to scale globally. In addition to the steady growth of the company’s existing business areas, we also continue to explore new opportunities and expand business horizons. In March 2021, we unveiled a new brand identity for Xiaomi and also announced our official entry into the smart electric vehicle business, setting a course for an exciting journey that will provide the company with a bright future in the next decade. “
Recall that Xiaomi was founded in April 2010, and according to the results of the last quarter, it ranks third among smartphone manufacturers with a share of 15% .
