- General
- May 20, 2019
- 4 minutes read
Xiaomi Reports $6.3 Billion Q1 Revenue
Xiaomi products image: Xiaomi Xiaomi has released its financial results for the first quarter of this year, reporting 43.8 billion yuan ($6.3…
 |
| Xiaomi products
image: Xiaomi
|
Xiaomi has released its financial results for the first quarter of this year, reporting 43.8 billion yuan ($6.3 billion) revenue and profit of 3.2 billion yuan ($460 million). This indicates a 27% jump in revenue on an annual basis. The bulk of revenue — 27 billion yuan ($3.9 billion) — came from smartphones, a 16.2% increase from the same period last year.
Xiaomi shipped 27.9 million smartphones in Q1 2019 and ranked 4th globally in terms of volume of smartphone shipments according to market analyst firm Canalys. Revenue from IoT and lifestyle products like smart TVs and air conditioners rose 56.5% year-on-year to 12 billion yuan ($1.74 billion).
 |
| image: Xiaomi |
Xiaomi has now sold a total of 2.6 million smart TVs worldwide. Other key stats from the company’s Q1 results include:
- 4.3 billion yuan ($620 million) internet services revenue.
- 2.3 billion yuan ($330 million) advertising revenue.
- 16.8 billion yuan ($2.43 billion) revenue from international markets.
- 171 million devices now connected on its IoT platform.
- More than 45.5 million monthly active users of its AI assistant, Xiao Ai.
- 26.1 million monthly active users of the Mi Home app, more than 50% of that number using non-Xiaomi smartphones.
- Investments in more than 270 companies with a book value of 29 billion yuan ($4.2 billion).
