Xiaomi has recently completed and publicized its audited, consolidated results for the year of 2019, up until December 31st, 2019. In short, steady and solid growth is achieved across all its business segments and striking RMB200 billion (RM125 billion) total revenue for the first time ever, with Q4 contributing a gross profit of RMB56.5.
Xiaomi has a lot of other businesses other than just smartphones – but it’s surprisingly that Xiaomi grossed so much within the year.
Long Live Xiaomi
The Founder and CEO Lei Jun stated that 2019 is a truly spectacular year where being shortlisted into Fortune Global 500 and BrandZ’s Top 100 Most Valuable Global Brands shows the decision of dual-branding Xiaomi and Redmi with independent operation years ago paved the pathway to success than ever.
He also added that investment of RMB50.0 billion in the next 5 years are planned, with innovation and user experience as a priority for connecting people and technology and improve lives in the future.
Here is a summarized list of revenue generated by all of Xiaomi’s business sectors.
- Smartphones: RMB122.1 billion
- IoT (Smart TVs, AI Assistant, Smart Watch, Wristbands): RMB62.1 billion
- Internet Services (MIUI): RMB19.8 billion
Surprisingly, almost half of the revenue at 46.8% was contributed by the overseas market which already showed that Xiaomi products are welcomed all over the world, possibly rivaling mainland China’s sale if they decided to expand exclusive products to the rest of world.
For this year, Xiaomi is giving all out to strengthen its position in the 5G and AIoT sectors. With the recent announcement of their new 5G smartphone lineups of Mi 10 series and Mi 10 Lite, while the Redmi Note 9S proves that performance doesn’t need to cost a bucket, it is expected that they will continue to grow stronger than ever.
For a complete list of numbers regarding the audit report, click here.
It is also worth noting that Xiaomi invested in other companies too. For example, Black Shark and Haylou are both funded by Xiaomi but is not owned by Xiaomi. We’re unsure how Xiaomi gets its return of investment.
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