It is undeniable that 2023 will be a complex year for many companies. In fact, the mobile phone industry recorded quite a lot of losses. But it doesn’t stop Xiaomi reaffirming its dominant position and earns as high a profit as the fans in his community.

And that’s it, Make a profit of 126.3% and on top of that your netThis is not easy, so the company has consolidated its position in 2023 not only with mobile phones but also with IoT devices, and on top of that, it has started a new trajectory on a new path by allowing a new operating system like HyperOS. Xiaomi car was launched to the market with SU7.

Xiaomi Mobiles ranks third globally for the third year in a row

Xiaomi took the opportunity to present its financial results for the full year 2023, which has been a complex year for the industry; but the company co-founded by Lei Jun generated total revenue across all its divisions for approximately 271,000 million yuan. 34.8 billion euros, It made a net profit of 19.3 billion yuan, or approximately 2.48 billion eurosThis represents a benefit of 126.3%. Crazy, come on.

Focusing on the mobile section, Xiaomi broke another record by maintaining third place in the global smartphone market for the third year in a row.It surpassed only Apple and Samsung. In fact, we need to talk about growth, because in the fourth quarter of 2023, the company’s global mobile shipments reached 40.5 million units, an increase of 23.9% compared to the same period in 2022.

According to consulting firm Canalys, by 2023Shipments of Xiaomi, Redmi and POCO terminals ranked in the top three in 51 countries and regions worldwide and in the top five in 65 countries and regions worldwide. The three phone brands ranked second in the Middle East and third in Latin America, Africa and Southeast Asia, and their market shares increased in all these regions.

IoT devices and Xiaomi SU7

One of Xiaomi’s best assets is its product ecosystem, and thanks to them, Xiaomi’s IoT (Internet of Things) and lifestyle product revenue reached 80.1 billion yuan, or 10.263 billion yuan. Gross profit margin reached an all-time high of 16.3%.

As of December 31, 2023, the number of IoT devices connected to Xiaomi’s AIoT platform (excluding smartphones, tablets and laptops) reached 739.7 million. 25.5% more than in 2023. On the other hand, the number of users with five or more devices connected to the AIoT platform (excluding smartphones, tablets and laptops) reached 14.5 million, an increase of 25.3% compared to 2023.

TVs and wearables

It went well on television, too, because Xiaomi Smart TV shipments ranked in the top five in the world. The number of monthly active users of the Mi Home Application, which allows you to manage all Xiaomi’s smart devices from your mobile phone, reached 85.8 million global users in December 2023.

In the wearable products industry”Xiaomi maintains its leading position in the industry“. According to Canalys, in 2023, Shipments of fitness trackers such as Xiaomi’s Smart Band ranked second in both mainland China and global marketsand TWS wireless headset shipments ranked second in mainland China.

They also go

We must not forget that in 2023 we passed Xiaomi launched a new operating system and also introduced its first electric vehicleIt’s a bet on positioning itself in the EV market where Tesla currently dominates: the “People × Car × Home” corporate strategy.

Expenses of the smart electric vehicle business and other new initiatives undertaken by the company increased to 6.7 billion RMB (approximately 858 million euros). However, it is clear that the remaining episodes gave more than enough reward.

With 2024 already about to enter its fourth month, it is not yet clear whether Xiaomi will surpass 2023 this year or remain on its own. But only by maintaining this, we will undoubtedly be talking about good results.

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