The overall gross profit margin remained high at 20.7 percent. Meanwhile, Xiaomi’s three core business areas – smartphones, Internet of Things (IoT) and lifestyle products, and Internet services – beat market expectations with revenue of 46.5 billion yuan respectively. yuan, 26.8 billion yuan and 8.3 billion yuan. Revenues from the smart electric car business and other new initiatives totaled $6.4 billion. yuan. According to the company, the results of the second quarter exceeded expectations and will ensure further growth and development.
Continues to lead the smartphone market
In the second quarter of this year, Xiaomi continued to rank among the leading technology companies that supply smart mobile phones. 42.2 million have already been sold. units of smartphones, which is almost a third more than last year.
According to technology market analytics company Canalys, Xiaomi is the third largest brand in the world with a 14.6 percent share. mobile phone market.
In addition, this year the consumer technology giant introduced new products – the foldable phones Xiaomi MIX Fold 4 and the compact Xiaomi MIX Flip. The performance of the two foldable smartphone models far exceeded expectations and further strengthened Xiaomi’s reputation in the high-end market.
Growing sales and developing artificial intelligence
The company continues to consistently grow sales of other smart devices that are still classified as Internet of Things. According to unaudited data, revenue in this area grew by 38.7 percent, and the purchase of tablets doubled compared to last year.
In addition, Xiaomi’s rapidly developing network of electric cars has exceeded the company’s own expectations, and it is predicted that the company will reach the planned limit of 100,000 electric cars as early as November.
Meanwhile, investments in the smart ecosystem “Human x Home x Car” grew by a fifth compared to last year and reached 5.5 billion. yuan (0.69 billion euros). Xiaomi’s AI technology is being developed in several areas, especially in the smart electric car sector, which has allowed the company to achieve outstanding achievements. This technology has already been widely adopted: it offers reliable technical assistance with the Autopilot function, automatic parking and voice interaction through the Xiaomi AI assistant.
2024-08-26 08:41:28