While the COVID 19 pandemic has hit companies around the world hard, the Chinese tech giant Xiaomi shared a couple of infographics showing progress in the second quarter of the year.
Of particular note is the sharp jump in MIUI's monthly active users (MAU), which jumped from 279 million in June 2019 to a whopping 343 million in June 2020. The infographic also shows that the number of Xiaomi devices connected to the company's IoT platform has reached 271 million. The monthly active users of the Mi Home app reached 40,8 million, up 34,1% from last year.
Xiaomi's revenue also rose, as the company's gross revenue in the second quarter was estimated at 53,5 billion yuan ($ 7,8 billion) on an impressive net profit of 3,4 billion yuan ($ 494 million). The brand's overseas business brought in 23 billion yuan, nearly half of the total revenue for the quarter.
The smartphone market continues to be Xiaomi's main source of income. Around 2020 million smartphones were shipped in the second quarter of 28,3, with the Mi 10 series serving as the main catalyst in this regard. The company said it sold over a million Mi 10 phones in the first two months.
The series continues to bring success to the brand as the Mi 10 Ultra with its top-notch DXOMark camera has the potential to confuse all other flagship variants in China. During its first sale in China, Xiaomi earned 10 million yuan ($ 400 million) in just 58 minutes.
If Xiaomi meets the demand of its fans to release the phone to the global market, we may see another record set in the last quarter.
Apart from the flagship segment, the Redmi series has also contributed to the company's growing revenue. The Redmi 9 series and Redmi K30 Ultra have also proven to be strong launches that will help the company solidify its position as the fourth largest smartphone brand in the world.
Xiaomi is proud of itself not only as a smartphone manufacturer, but as an Internet company. Its tentacles extend to wearable devices, headphones, smart TVs and other smart home and ecosystem products. Xiaomi has dominated the smart TV market in India and China on numerous occasions. The brand continued to dominate China, boosted by the launch of the Mi TV Master Series, with the company adding the Mi TV LUX transparent TV just this month.
Xiaomi is currently ranked among the top 2020 smart TV brands in the world and ranked first in China. The brand reported that around 2,8 million smart TVs were shipped in the second quarter of XNUMX, with the company spreading its tentacles to new markets such as Poland, France and Italy with the Mi TV lineup.
One of the markets in which Xiaomi's progress continues to resonate is in Europe. In the first quarter of 2020, the company's market share grew 145% year-over-year, becoming the third-largest phone brand on the old continent, ahead of Huawei. In the second quarter of 2020, Xiaomi continued its impressive growth, ranking first in Spain, second in France and fourth in Germany and Italy for smartphone shipments.
