Xiaomi's profits continue to rise in line with Huawei's sales drop

Xiaomi confirms its financial results in a spectacular 2020: its profits rose 28.7% to 5.6 billion dollars.

Xiaomi had already been moving at a record pace in recent years, although to date the Chinese giant had only given quarterly brushstrokes of some really astronomical growth figures, which are finally official from Haidian confirming a 28.7% profit increase.

In fact, it is that both sales and their translation to the company's cash flows have grown generously in a year complicated by the pandemic, sure this time sheltered from a crash like the one suffered by Huawei due to the veto of the United States that has caused them, above all, enormous problems of supplies to assemble smartphones.

Money rains on Xiaomi

The void left by Huawei catapulted them into 2020, and looking at their figures, anyone would think that Xiaomi is effectively raining money.

Entering the matter, we can reel off the "Stellar results" of the Xiaomi presumes starting with a 28.7% increase in operating profit, which exceeded $ 5.6 billion after registering the company led by Lei Jun more than 10 million smartphones premium sold throughout 2020.

All the financial indicators and results of Xiaomi in 2020 point with the date upwards, and it is that the fall of Huawei has left them a lot of ground to conquer in the complicated market of China, their own native country.

This is the “millionaire” it costs to buy all Xiaomi products for the digital home

This detail is not trivial, and it is that the fall into hell of Huawei has opened the doors of a high end that those of Shenzhen dominated with an iron hand in China, thanks to its good photographic features and smartphones that pointed to the world throne before Trump's veto.

Xiaomi says that in these sales figures have counted any device sold above $ 460, without specifying how many smartphones have been from Xiaomi, Redmi or any other of its sub-brands. We would have liked to break down these data!

What those of Lei Jun also announced is a 19.4% increase in gross income, no less than 37,700 million dollars, pushed by huge growth in international markets that is estimated in the reports at an enviable 34.1%.

Xiaomi results in 2020

Xiaomi results in 2020

Xiaomi results in 2020

The analysis is quite clear, because the mobile market in China is very complex and there is a huge drop from 41% share to 30% by Huawei, letting Xiaomi grew two points to 13% and with other media giants like OPPO and Vivo also fighting to eat part of that cake.

The best part for Xiaomi is that not only excels in the smartphone industry, but also allows us to check how has dominated smart TV sales in China including its 70-inch Smart TVs, also sneaking into the 'top5' globally.

Looking ahead to 2021, the truth is that expectations are no worse, and all analysts predict that Xiaomi will continue to grow with good figures, partly because their new devices like the Mi 11 have garnered good reviews and sales in their first weeks, but also because Everything indicates that Huawei will continue to bleed out without new high-end chips and with HarmonyOS still in its infancy.

We will have to congratulate Xiaomi, because the truth is that at least in Spain their strategy with dozens of stores and hundreds of references, including a lot of mobile phones, is reporting a huge success.

Xiaomi numbers: more sales, more money and 343 million Xiaomi users

Related topics: Huawei, Mobiles, Technology, Xiaomi

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