While many smartphone brands were releasing new models in various markets, Xiaomi was announcing its achievements in 2021. According to the company’s Q4 report, the total revenue of Xiaomi Group reached 85.6 billion yuan ($13), a year-on-year increase of 21.4%; the adjusted net profit reached 4.5 billion yuan ($0.71 billion), a year-on-year increase of 39.6%.
Xiaomi’s Performance In 2021
In 2021, the total revenue of Xiaomi Group reached 328.3 billion yuan ($52 billion), a year-on-year increase of 33.5%; the adjusted net profit reached 22 billion yuan ($3.46 billion), a year-on-year increase of 69.5%.
As for smartphones, Xiaomi products continued to sell well around the world in 2021. In terms of both global shipments and market share, Xiaomi smartphones reached a record high. Particularly, global shipments of smartphones reached 190 million units, a year-on-year increase of 30.0%.
As Canalys proves, Xiaomi ranks first in 14 global markets in 2021. Also, it is in the top five in 62 global markets and second in the European market.
Thanks to the steady progress of the internationalization strategy, Xiaomi’s global was quite successful in 2021. The non-Chines market performance of the company maintained strong growth. In 2021, the overseas market revenue was 163.6 billion yuan ($21), a year-on-year increase of 33.7%, accounting for 49.8% of the total revenue.
Xiaomi also continued to perform well in the premium smartphone market.
In 2021, Xiaomi’s global shipments of premium smartphones priced at 3,000 yuan ($412) or more in mainland China and 300 euros or more overseas exceeded 24 million units. This is twice more a year earlier.
Among them, overseas shipments of premium smartphones priced at 300 euros or more increased by more than 160% year-on-year.
Smart TV Market
Driven by the premiumization strategy, the ASP (average selling price) of smart TVs also increased significantly. In effect, the revenue of smart TVs grew by more than 25% year-on-year.
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In terms of technology research and development, Xiaomi said that it will always increase investment in R&D, and insist on innovation-driven technologies. In 2021, Xiaomi’s R&D expenditure reached 13.2 billion yuan ($2.07 billion), a year-on-year increase of 42.3%.
Since 2017, the compound growth rate has reached 43%. Also, the exploration of cutting-edge technology has begun to show results. On the two high-end flagship models, Xiaomi MIX FOLD and Xiaomi 12 Pro, Xiaomi put first self-developed professional image chip Xiaomi Surge C1 and the first self-developed charging chip Xiaomi Pengpai P1.
Xiaomi said that it will unswervingly adhere to technology-oriented in the future, and it is expected that the R&D investment will exceed 100 billion yuan ($16 billion) in the next five years.