Today, Xiaomi Group announced its 2021 annual results. In 2021, the company’s total revenue will reach $51.5 billion, a year-on-year increase of 33.5%. The company also records an adjusted net profit of about $3.4 billion, a year-on-year increase of 69.5%. Last year, its global smartphone shipments and market share will both reach record highs. The company also had global smartphone shipments of 190 million units. This is a year-on-year increase of 30.0%.
Top 10 strides of Xiaomi in 2021
1. Global smartphone shipments
In 2021, Xiaomi’s global smartphone shipments and market share both reach record highs. The company records global smartphone shipments of 190 million units, a year-on-year increase of 30.0%. According to Canalys, Xiaomi’s smartphone shipments will rank third in the world in 2021, with a market share of 14.1%.
In 2021, its smartphone shipments in foreign markets (excluding India, Sri Lanka, Nepal, and Bangladesh) operator channels exceed 25 million units, a year-on-year increase of over 120%. At the same time, according to Canalys, the company’s smartphone shipments ranks among the top three in 34 foreign markets. Its market share in operator channels in Europe increases from 7.9% in 2020 to 16.8%.
2. Xiaomi’s global business
In Xiaomi’s global business in 2021, revenue from foreign markets hit $25.7 billion, a year-on-year increase of 33.7%, accounting for 49.8% of its total revenue. In addition to the smartphone business, the Internet and IoT businesses show a growth trend. Furthermore, the Internet revenue is about $785.6 million, a year-on-year increase of 84.3%. Its Q4 global Internet revenue will account for 21.5% of the overall Internet service revenue.
3. Xiaomi smartphone sales ranking
According to Canalys, Xiaomi smartphones rank first in 14 global markets. It also ranks top five in 62 global markets in terms of shipments. In the European market, its smartphone shipments account for 22.5% of the market, ranking second. At the same time, in the Latin American and African markets, the company’s smartphone shipments in 2021 will increase by 94.0% and 65.8% year-on-year, ranking third.
4. Xiaomi flagship market
In 2021, Xiaomi shipped more than 24 million high-end smartphones with a price tag of $471 or more in mainland China. For the global market, the price of the smartphones it considers flagship is 300 euros or more, doubling from last year. In terms of shipments, the company’s share of high-end smartphones increases from about 7% in 2020 to about 13%. Its foreign shipment of flagship smartphones with a price tag of 300 euros or more increases by more than 160% year on year. Canalys data shows that in 2021, Xiaomi’s shipments will rank third in the foreign high-end smartphone market with a retail price of $350 or more.
5. Xiaomi sales battle report
According to the first sales battle report, the sales of the Xiaomi 12 series exceed $282.8 million within 5 minutes of the launch in omnichannel sales. At the same time, according to third-party data, the combined shipments of Xiaomi 12 and 12 Pro in the first month of release far exceeds the combined shipments of all other smartphone brands with the new Snapdragon 8 Gen 1. In February 2022, the sales of the Redmi K50 Gaming Edition and the Redmi K50 Champion Edition exceeds $44 million in the first minute of their first sale.
6. Xiaomi smartphone × AIoT strategy
In 2021, Xiaomi will continue to promote the mobile phone × AIoT strategy on a global scale. As of December 31, 2021, the number of Xiaomi-AIoT connected devices (excluding smartphones, tablets, and laptops) hit 434 million, a year-on-year increase of 33.6%. There are five or more devices connected to the Xiaomi-AIoT platform (excluding smartphones). The number of users of mobile phones, tablets, and laptops hit 8.8 million, a year-on-year increase of 40.4%. In December 2021, Xiao Ai’s monthly active users increased by 23.3% year-on-year to 107 million. Furthermore, the Mijia App’s monthly active users increased by 42.0% year-on-year to 63.9 million.
7. Xiaomi smart TVs & smart air conditioners shipment
In 2021, global shipments of Xiaomi smart TVs hit 12.3 million units. According to Aowei Cloud, the company’s TV shipments ranks first in China for three consecutive years and top five in the world. Smart TV ASP also increased significantly, driving smart TV revenue up more than 25% YoY.
At the same time, in December 2021, the number of monthly active users of its smart TVs (including Xiaomi Mi Box and Xiaomi TV Stick) increased by more than 29% year-on-year, of which Mi TV paying users increased by 14.5% year-on-year to 4.9 million.
In addition to TVs, Xiaomi’s global shipments of smart air conditioners exceeds 2 million units in 2021, a year-on-year increase of over 70%. Smart home appliances (air conditioners, refrigerators, washing machines) lead the market, with revenue increasing by over 60% year-on-year in 2021.
8. Xiaomi tablets, IoT & Internet services
In terms of tablets, according to Canalys data, in Q4 2021, the shipments of the Xiaomi tablet 5 series in mainland China rose to fourth. Furthermore, Xiaomi’s IoT and consumer product business revenue hit $13.3 billion, a year-on-year increase of 26.1% in 2021. Xiaomi’s Internet service revenue will reach $4.4 billion, a year-on-year increase of 18.8% in 2021.
In Q4 2021, Xiaomi’s foreign Internet revenue was $251.4 million, a year-on-year increase of 79.5%. It accounts for 21.5% of Internet service revenue and growth for three consecutive quarters.
In December 2021, the global MIUI monthly active users increased by 28.4% year-on-year to 510 million. In 2021, the global net new MIUI monthly active users will reach 113 million. The number of net new users in mainland China will reach 18.9 million.
10. Xiaomi’s R&D and advertising business revenue
Xiaomi’s advertising business revenue in 2021 will reach $2.8 billion, with a year-on-year growth rate of 42.3%. In Q4 2021, Xiaomi’s global pre-installation revenue and foreign search revenue have been steadily improving. Xiaomi’s advertising revenue has increased by 34.0% year-on-year, reaching $769.9 million.
In 2021, Xiaomi’s R&D expenditure will reach $2 billion, a year-on-year increase of 42.3%. The five-year compound growth rate from 2017 to the present is 43%. At the same time, it will continue to increase investment in research and development in the next five years.
Xiaomi is a multi-million-dollar company that does much more than smartphones. For instance, its CyberDog bionic quadruped robot project won the 2021 “Million Dollar Technology Award”. This reflects Xiaomi’s support for engineers’ pioneering spirit and technological innovation. Furthermore, the company will set up a robot laboratory and launch a bionic quadruped robot CyberDog Engineering Exploration Edition. This has become a symbol of Xiaomi’s engineer culture and pioneering spirit.
In 2021, Xiaomi will launch a broader talent incentive program to motivate outstanding talents including young engineers, technical experts, middle and senior managers, and candidates for the New Decade Entrepreneur Program. Xiaomi claims that through continuous talent incentives, it has a strong technological innovation force.