According to Xiaomi’s financial report for the second quarter of 2021, the company has experienced 64% annual revenue growth. The Chinese have achieved such growth thanks to high sales of smartphones and IoT products.
Xiaomi earned $ 13.56 billion (87.8 billion yuan) during this period Experienced The company has grown significantly compared to the company’s revenue of $ 8.26 billion (53.54 billion yuan) in the same period last year.
Xiaomi has outperformed market analysts. Analysts expected $ 13.05 billion (84.53 billion yuan) in revenue from the company. Xiaomi’s profit also grew by a significant 84% year-on-year to $ 1.28 billion.
One of the main reasons for such revenue growth is the extensive and severe sanctions imposed on Huawei by the United States government. Huawei has a much smaller presence in the smartphone market than in the past, which is why Xiaomi has been able to replace it in the market, and of course other Chinese manufacturers such as Oppo and Vivo have taken full advantage of this situation.
According to research firm Canalis, sales of Xiaomi handsets in the second quarter of 2021 experienced an annual growth of 83%, and the Chinese were able to sell 52.8 million handsets. With this amount of sales, Xiaomi has become the second largest phone manufacturer in the world after Samsung, and Apple is in the third place.
Although Xiaomi is in second place overall, in June it was able to reach the top of the table by defeating Samsung for the first time in its market history.
In addition to smartphones, Xiaomi sells countless other products on the market that also contribute to revenue growth. The company has many ambitious plans for the coming years, such as entering the car market; An industry in which Apple also wants to play a major role.