The Chinese tech giant, Xiaomi, has announced its financial report for 2021 and from the looks of it, the numbers are quite impressive. Despite the global chip shortage hitting some of the big tech giants on top of an ongoing pandemic, Xiaomi’s resilient business model shows healthy annual growth.
According to the report, the company’s total revenue, in 2021, reached $51.57 billion, while adjusted net profit reached $3.46 billion, showing an increase of 69.5 percent YoY.
The report further reveals that the company’s global smartphone shipments reached an all-time high of 190.3 million units, showing an increase of 30 percent when compared to the previous year. In 2021, Xiaomi’s smartphone shipments ranked 3rd worldwide with a record-high market share of 14.1 percent. During the same year, revenue from overseas markets reached $25.7 billion, showing an increment of 33.7 percent YoY, accounting for 49.8 percent of the overall revenue generated.
In Europe, Xiaomi’s smartphone shipments ranked 2nd with a 22.5 percent market share in 2021. While in Latin America and Africa, Xiaomi’s smartphone shipments rose by 94.0 percent and 65.8 percent year-on-year respectively, making it the 3rd most-popular smartphone vendor in both regions.
Alongside the smartphone business, the overseas internet and IoT business also showed impressive growth. The company’s overseas internet revenue increased 84.3 percent YoY to $790 million, corresponding to 17.8 percent in 2021.
According to the financial results, Xiaomi recorded a 33.5 percent growth in total revenue for the year 2021 while the adjusted net profits incremented by 69.5% from 2020. The reported figures stood at 328.3 billion yuan ($51.6 billion) in total revenue and 22 billion yuan ($3.45 billion) in adjusted net profit for 2021.
The company plans to sustain these impressive statistics for the year 2022, as it continues to pursue diversification of its earning trajectory with its fast-expanding tech product offerings.
