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Xiaomi exceeds expectations during the pandemic. Profits grow exponentially!

This year has been a real nightmare for the vast majority of companies, regardless of the sector. However, some have managed to overcome the many obstacles presented by the Covid-19 pandemic, even managing to impressively beat the numbers achieved in 2019. An excellent example of this is Xiaomi.

According to information presented yesterday by Lei Jun on the Chinese social network Weibo, the third quarter of 2020 was a real success for Xiaomi. Revenues rose 34.5% when compared to the results of last year, reaching a value above 9 billion euros.

Xiaomi sales 3rd quarter earnings 2020

In turn, profits also showed impressive growth, with an increase of 18% when compared to the results of 2019. Thus, during the last 3 months, Xiaomi has managed to guarantee profits in the order of 523 million euros.

Xiaomi smartphone sales reach unbelievable values

At a time when it was expected a steady decline in the number of smartphones sold, Xiaomi managed to surpass all expectations, achieving numbers far higher than expected. During the last quarter, they managed to sell more than 46 million smartphones, of which 8 million correspond to the segment premium (over € 300).

This considerable growth during such an atypical year, allowed Xiaomi to rise to the 3rd position in the world ranking of smartphone manufacturers, surpassing the giant Apple.

The impressive international expansion has been one of Xiaomi’s greatest assets, and the results are in sight. Currently, the manufacturer is already in the Top 5 most popular brands in 54 countries, where obviously UK is included.

Xiaomi Top 5

Contrary to what many might expect, it seems that Xiaomi will not slow down in its growth and could even become a serious competitor for the title of the world’s largest manufacturer over the next few years.

Its expansion into the many international markets will continue at full throttle in 2021, as will its investments in building smart factories to maximize its smartphone production capacity. All of these strategies, coupled with the constant launch of smartphones that offer an excellent price / quality ratio, may prove to be crucial for its growth.

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