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Xiaomi Doubled its Net Profit in Q1 2021 Xiaomi has just published its financial report for the first quarter of 2021 revealing double the net profits and an increased market share. The company managed a total revenue of CNY 76.9 billion, up 54.7% compared to the same period last year. The adjacent net profit also went up to CNY 6.1 billion, which is a whopping 163.8% increase over last year. Although the company grew in other areas as well, smartphones remain the backbone of the company. Xiaomi shipped 49.4 million units that accounted for 51.5 billion of the revenue up 69.8% YoY. Out of these, 4 million of the phones cost CNY 3,000/€300 or more. The gross profit margin on smartphones was 12.9%. ....
Xiaomi publishes Q1 report, net profits more than double as market share grows Xiaomi published its financial report on the three-month period that ends on March 31 2021, which shows growth across the board. The total revenue for the company was CNY 76.9 billion, up 54.7% compared to the same period last year, while the adjusted net profit went up to CNY 6.1 billion, a 163.8% increase over last year (note: this is a non-IFRS number). Smartphones remain the backbone of the company, the 49.4 million units shipped accounted for CNY 51.5 billion of the revenue (up 69.8% YoY). 4 million of those phones cost CNY 3,000/€300 or more. The gross profit margin on smartphones was 12.9%. ....