Today, Xiaomi announced its annual results for 2020. Xiaomi’s annual report shows which segments were the most successful for the manufacturer.
Let’s start with the financial part. Xiaomi’s annual report shows that the total revenue of Xiaomi Group last year reached 245.9 billion yuan ($38.3 billion), a year-on-year increase of 19.4%; adjusted net profit reached 13 billion yuan ($1.99 billion), a year-on-year increase of 12.8%. Xiaomi’s revenue in the fourth quarter of 2020 was 70.46 billion yuan ($10.80 billion). In 2020, Q4, net profit was 3.2 billion yuan ($0.49 billion), a year-on-year increase of 36.7%.
Smartphone Sales In Domestic And Global Markets
Xiaomi’s global smartphone shipments reached 146.4 million units in 2020, a year-on-year increase of 17.5%. In 2020, smartphone revenue reached 152.2 billion yuan ($23.3 billion), a year-on-year increase of 24.6%.
In the fourth quarter of 2020, smartphone revenue reached 42.6 billion yuan ($6.53 billion), a year-on-year increase of 38.4%. Global smartphone shipments in the quarter were 42.3 million units, a year-on-year increase of 29.7%.
As Xiaomi’s annual report shows, in 2020, Xiaomi’s overseas market was further expanded. The overseas market revenue was 122.4 billion yuan ($18.76 billion), a year-on-year increase of 34.1%, accounting for 49.8% of the total revenue. Its products are sold in more than 100 countries and regions around the world. In the fourth quarter of 2020, Xiaomi ranked top five in smartphone shipments in 54 countries and regions.
Xiaomi also stated that its smartphone business has further established itself in the premium market. In 2020, the global sales of premium smartphones priced at 3,000 yuan ($460) or above in Mainland China and 300 euros or above overseas were around 10 million units.
According to Canalys’ statistics, in 2020, Xiaomi smartphone shipments grew by more than 24 million units against the trend, making it the smartphone manufacturer with the largest year-on-year net increase in global smartphone shipments. In the fourth quarter, it ranked third in the world with a market share of 12.1%.
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Also in the fourth quarter, Xiaomi’s smartphone shipments in China were increased by 51.9% year-on-year. Its market share rose from 9.2% in the same period last year to 14.6%. It ranks first among the top five manufacturers in terms of growth rate.
MIUI Active Users
In addition, as of December 2020, Xiaomi’s global MIUI monthly active users reached 396.3 million, a year-on-year increase of 28.0%. Among them, the number of MIUI monthly active users in mainland China was 111 million. In January 2021, the number of MIUI monthly active users in mainland China reached 115 million.
Xiaomi’s Efforts In AIoT
At the same time, the globalized AIoT platform continues to expand. As of December 31, 2020, the number of IoT devices (excluding smartphones and laptops) connected to the Xiaomi AIoT platform reached 324.8 million, a year-on-year increase of 38.0%. The number of monthly active users of the artificial intelligence assistant (Xiao Ai) reached 86.7 million in December 2020, a year-on-year increase of 43.5%.
In 2020, the revenue from the IoT and consumer products segment of Xiaomi Group reached 67.4 billion yuan ($10.33 billion), an increase of 8.6% year-on-year; the revenue from the IoT and consumer products segment reached 21.1 billion yuan ($3.23 billion) in the fourth quarter of 2020, an increase of 8.0% year-on-year.
Xiaomi’s annual report also shows that in 2020, its Internet service revenue was 23.8 billion yuan ($3.65 billion), a year-on-year increase of 19.7%; in the fourth quarter of 2020, Xiaomi’s Internet service revenue was 6.2 billion yuan ($0.95 billion), a year-on-year increase of 8.4%.
Xiaomi Leads Domestic TV Market
Global shipments of Xiaomi smart TVs reached 12 million units in 2020. By the fourth quarter of 2020, Xiaomi TV’s shipments in mainland China ranked first for the eighth consecutive quarter. In the global TV market, it ranked fifth.
Xiaomi’s annual report shows that as of December 31, 2020, Xiaomi has invested in more than 310 companies. The total investment value was 48 billion yuan ($7.36 billion), a year-on-year increase of 60.1%.