China’s smartphone maker Xiaomi Corp said on Tuesday, March 22, that in the fourth fiscal quarter of its year 2021 it had an increase in turnover of 21.41 percent. A percentage higher than expected.
The causes? An increase in supply after a slow but consistent exit from the chip crisis. And, at the same time, the end of the coronavirus pandemic sparked demand.
Xiaomi’s revenue grew to 85.5 billion yuan, which is equivalent to about $13.4 billion in the three months ending on the last day of 2021.
A year earlier, between October and December 2020, revenue was 70.47 billion yuan, the Chinese brand said in a release.
Experts’ expectations were that Xiaomi would sell devices for 81.85 billion yuan.
Xiaomi sales volume
By volume, sales of smartphones from this brand grew by 4.41 percent to 44 million units between October and December 2021.
Net income, meanwhile, grew by 39.5 percent: 4,472 million yuan, well above the expectation of experts in the company. The full report.
Xiaomi improved in markets such as Europe, the Middle East, Latin America, Africa and Asia Pacific.
According to figures from Canalys, Xiaomi’s market share ranked first in 14 countries and was in the top five in 62 nations globally.
In Europe, Xiaomi’s sales ranked second in 2021 with a 22.5 percent market share.
In Latin America
In Latin America (from Mexico to Argentina) and Africa, the increase in brand sales was very important: in 2021 they grew 94 and 65.8 percent year on year, respectively. The brand was the third smartphone provider in both regions.
Competitiveness in the premium smartphone segment improved, while the dual-brand strategy continued to drive growth.
Xiaomi continues to gain penetration in many markets thanks to the departure of Huawei from the game, which lost almost all of its participation due to the sanctions of the United States.
However, Xiaomi and its marketing have not been able to grow as expected because other Chinese rivals, such as Oppo and Vivo, also “steal” space.
Likewise, little by little, the brand is becoming stronger as the third player behind the giants Apple and Samsung.
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