Xiaomi published its 2019 financial report. Even with plenty of hurdles in 2019, the company is reporting significant growth. Yearly revenue came in at CNY 205.8 billion — (USD $29 billion) — marking the first time that Xiaomi has passed the 200 billion milestone.
Revenue is great — it means the company is doing more sales than ever; however, profits still took a big hit. Net profit was CNY 10.04 billion for 2019, a decrease from CNY 13.55 billion in 2018. Year-on-Year, that's a 26% decrease.
Like we said, revenue is up, which means sales are up — and Xiaomi's sales are showing impressive numbers for 2019. In Q4, Xiaomi shipped 326 million units at a revenue of CNY 30.8 billion, a 22.8% increase for the same quarter in 2018.
Smartphone sales actually accounted for over half of Xiaomi's revenue, with the smartphone department accounting for CNY 122.1 billion in 2019.
It'll be particularly intriguing to see 2020 numbers, and how the coronavirus outbreak has affected sales and growth. As of right now, now that the shutdown has essentially lifted in China, Xiaomi has recovered 80-90%, the company says. Still, with this being a worldwide pandemic, smartphone sales have slumped across the globe, and that's no doubt going to be hurting a few company's bottom lines.
source: Xiaomi
