Xiaomi Shows Strong Performance, Profit more than Rs 12,600 Crore, Smartphone Shipments More Than 4 Crore Units

Chinese electronics company Xiaomi has obtained a consolidated revenue of about Rs 1.31 lakh crore in the first quarter of the current year. This is an increase of 47.4 percent in revenue on year-on-year basis. For the first time, the company has achieved adjusted net profit of about Rs 12,680 crore. This is a growth of about 64.5 percent on a year-on-year basis.

Xiaomi has stated in a press release that all its business divisions have increased in the first quarter. The company has increased the focus on premium devices. It has also helped Xiaomi to increase margin. The company has stated that new products like Xiaomi 15 Ultra have received good response from customers. In Xiaomi’s January-March period, the international shipments of the smartphone have been around 4.18 crore units. This is the seventh consecutive quarter in which the company has recorded growth in smartphone shipments on a year-by-year basis. Revenue of the company’s smartphone division has increased by about 8.9 percent to about Rs 59,961 crore on a year-by-year basis. Xiaomi claims that it has upheld its position in the top three companies in smartphone shipments in the ninth quarter consecutive quarter.

In the first quarter, the average selling price (ASP) of Xiaomi’s smartphones increased to Rs 14,372. This is a record for the company. International shipments of Xiaomi’s tablet have increased by about 56.1 percent on a year-on-year basis. Along with this, the total number of users with five or more devices (except smartphones, tablets and laptops) connected to the company’s AIOT platform is about 1.93 crore.

Revenue of the company’s Internet-off-Things (IOT) and Smart Home devices increased by more than 58 percent to about Rs 38,276 crore on a year-on-year basis. Last year, Xiaomi entered the market of electric vehicle (EV). EVs of the company’s SU7 series have been of about 75,869 units. However, in this segment, it is getting a tough fight with other EV companies in China like Byd. The company has said that its air conditioner shipments have been more than 11 lakh units. This is an increase of about 65 percent on a year-on-year basis. Shipments of its refrigerator and washing machine have also increased.