On Wednesday, Xiaomi proceeded on to announce the company’s performance report for the first quarter of this year. The first quarter of 2020 has been dominated by financial crisis due to the coronavirus, however, things haven’t been too bad for the Chinese company. Indeed as far as the first quarter goes for Xiaomi– both the revenue as well as the profit the company managed to accumulate has far exceeded expectations. Also, brand’s 5G phones too have been on the receiving end of warm reception. It’s all positive for Xiaomi.
In the first quarter of the year, Xiaomi Group’s revenue reached 49.7 billion yuan – this showcasing a 13.6% year-one-year rise. The company then told the tale of the profit – it conjuring up to 2.3 billion yuan – this representing a 10.6 percent year-on-year increase. The smartphone business was responsible for bringing in a cool 12.3 percent year-on-year increase and this sum accounted for 61% of the total revenue for the Chinese phone-maker.
The overseas market that Xiaomi has greatly influenced in recent times managed to contribute 24.8 billion yuan to the company’s Q1 2020 revenue – represent a YOY increase of 47.8%. And so it now happens to be very likely indeed that for the very first time in Xiaomi’s history, its overseas revenue would reach 50%.
As far as the sheer number of smartphones sold goes – the company managed 29.2 units on that front. This sale figure represents a YOY increase of 4.7%. In accordance with what data from research firm Canalys has had to say, Xiaomi’s global market share saw a rise to 11.1% as the company managed to rank forth on a global scale.
The data from Canalys also went on to show that Xiaomi 5G phones have had a huge impact within the Chinese market, as the phones reaches 25.9% which happens to be higher than the market average. This great achievement of course is courtesy of the company’s latest 5G high-end models.