Xiaomi releases Q2 financial report! Revenue of 53.5 billion yuan and profit of 3.4 billion exceeded expectations

On August 26, Xiaomi Group released its financial report for the Q2 quarter of 2020. The report shows that Xiaomi’s revenue in the second quarter of 2020 was 53.5 billion yuan, and its adjusted net profit was 3.4 billion yuan. Revenue from overseas markets is gratifying, reaching 24 billion yuan, a year-on-year increase of 10%. In addition, Xiaomi’s Internet service revenue was 5.9 billion yuan, a year-on-year increase of 29%.

Xiaomi Q2 Earnings Report

Xiaomi’s financial report also shows that Xiaomi ranks among the top five in smartphone market share in 50 global markets and the top three in 25 markets. In addition, the European market increased by 65% year-on-year, the growth rate reached the first, and the market share entered the top three for the first time. The share of the Spanish smartphone market has been the first for two consecutive quarters.

In terms of Xiaomi’s mobile phone business, the brand’s mobile phone sales data in Q2 2020 is 28.3 million units, ranking fourth in the world, and the global average selling price (ASP) of smartphones increased by 11.8% year-on-year. Global MIUI monthly active users continue to grow, reaching 343 million in June 2020.

Xiaomi Transparent TV

In other respects, Xiaomi also introduced its performance in the AloT market. As of Q2 of 2020, the Xiaomi loT platform has 271 million connected devices, an increase of 38.3% year-on-year; the monthly active users of Mijia App reached 40.8 million, an increase of 34.1% year-on-year; the monthly active users of Xiaoai students were 78.4 million, an increase of 57.1% year-on-year; 5. The number of users connected to devices on the Xiaomi loT platform reached 5.1 million, a year-on-year increase of 63.9%. One thing is worth noting. In Q2 of 2020, Xiaomi’s smart TV shipments will reach 2.8 million units, ranking first in China and fifth in the world.