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Xiaomi Marked Staggering Growth In Q2 2021, The Numbers Are In

Xiaomi Logo October 2016 AH 11 AH 20191
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Xiaomi has shared some official numbers for Q2 2021, confirming staggering growth. The company’s profits increased 84.4-percent in Q2 2021, year-over-year (YoY).

Xiaomi shares official information, confirms staggering growth in Q2 2021

The company reported a revenue of CNY87.8 billion ($13.56 billion), which is a 64-percent increase compared to Q2 2020. Net profit for the same period comes down to CNY6.3 billion ($1.28 billion), which is an 87.4-percent growth YoY.

Xiaomi highlighted that both its revenue and net profit represent record highs, which gives the company a signal it’s going in the right direction.

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The company shipped 52.9 million smartphones in this period

Now, Xiaomi shipped 52.9 million units in Q2 2021, 86.8-percent more than it did in the same period last year. The company sold approximately 12 million premium smartphones globally, with prices at or above CNY3,000 / €300.

Xiaomi’s revenue from IoT and lifestyle products reached CNY20.7 billion, which is a 35.9-percent increase YoY. Global shipments of Xiaomi’s smart TVs hit 2.5 million units in Q2 2021.

What’s also interesting is that the number of users with five or more devices connected to Xiaomi’s IoT platform (not counting smartphones & laptops) reached 7.4 million. That also represents a huge increase in comparison to Q2 2020, an increase of 44.5-percent.

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Xiaomi will acquire Deepmotion soon

To make things even more interesting, Xiaomi announced that it will acquire Deepmotion. Deepmotion is an autonomous driving technology startup, and Xiaomi obviously plans to launch a self-driving car down the road. This acquisition will be worth around $77.3 million.

The company has been striving this year. It even managed to trump Samsung and become the world’s number one smartphone manufacturer in Q2 2021, at least according to some projections.

Xiaomi also recently released the Mi MIX 4, its extremely powerful handset with an under-display camera. More devices are coming from the company before the end of the year.

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It will be interesting to see how well will the company do in 2022, as it could push Samsung from the number 1 spot for a longer period of time, we’ll see.