As of the first quarter of 2021, Xiaomi remains among the top 3 in the global smartphone market. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 351.1 million smart devices connected to its platform, excluding smartphones and laptops.
Announcing Xiaomi’s unaudited consolidated results for the three months ending on March 31, 2021, the company’s total revenue and adjusted net profit far exceeded market expectations. With a 54.7% year-over-year (YoY) increase, the total revenue for the period amounted to RMB76.9 billion, while the adjusted net profit at RMB6.1 billion reflected an increase of 163.8% year-over-year.
According to Canalys, Xiaomi’s smartphone business continued to grow significantly for the first quarter of 2021 as it shipped 49.4 million units globally. The latest effort was enough to keep the company at its 3rd position towards a market share of 14.1%.
In mainland China, Xiaomi rose to the 4th position winning a market share of 14.6%. However, the online market grew from 18.5% of the same quarter last year to 38% in 2021. And by April 30, 2021, Xiaomi has now surpassed 5,500 retail stores.
Xiaomi has been busy in the AIoT market as much as it is in the smartphone, posting with revenue increasing 40.5% year-over-year to RMB18.2 billion.
Revenue from IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. The Group’s electric scooters, air purifiers, Mi Box, and other products maintained their widespread popularity.
As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on its AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%.
