Xiaomi grows 27.2% and reaches revenues of $ 6.3 billion in the first quarter 2019 – Business

Xiaomi grows 27.2% and reaches revenues of $ 6.3 billion in the first quarter 2019 - Business



Xiaomi unveiled the financial report for the first quarter of 2019. It is the company's first report after launching the "mobile + AIo" strategy. According to the report, the revenue of the Chinese group was 43.8 billion yuan (about $ 6.3 billion), which represents a growth of 27.2% over the same period last year. Profit was 2.1 billion yuan (303 million US dollars), an increase of 22.4% over last year, as the manufacturer surpassed market expectations.

According to Gizchina, during this period, the number of IoT devices connected to the Xiaomi platform reached 171 million units (excluding smartphones and computers), an increase of 70% over last year. The manufacturer's artificial intelligence assistant registered more than 45.5 million monthly users in March 2019, up from 247% over 2018. Much was due to the expansion into the Indian market, as well as the good acceptance in Western Europe.

During the reporting period, smartphone brand revenues were 27 billion yuan ($ 3.9 billion), up 16.2 percent, with global sales of 27.9 million units, reaching fourth place in the global ranking.

Redmi Note 7 was the smartphone that sold the most, registering 4 million units over the target period. The Xiaomi Mi 9, which was launched on February 20, saw the shipment of 1,5 million units at the end of March, registering the same number of sales at the beginning of April.

It was also announced that during the first quarter of 2019, Xiaomi's market share in China grew: from 9.5% in January, to 11.8% in March this year.



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