Xiaomi manages to attract attention in the technology world by achieving success in its product portfolio.The company’s latest financial results revealed that it has experienced growth in a wide range of areas from automobiles to smartphones.
Xiaomi revenues soared in the last quarter
Xiaomi, which shipped 1.7 million units in the air conditioning segment, an increase of 55 per cent, has achieved great success, especially in meeting the demand for advanced cooling solutions.
Strengthening its claim in the electric vehicle market, Xiaomi CEO Lei Jun announced that they have increased this year’s electric vehicle production target. Producing 100 thousand 000 electric vehicles, Xiaomi plans to sell 130 thousand models by the end of the year.
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The company’s success extends beyond home appliances. The company, which ranked fifth in the global tablet market and third in the Chinese market, achieved a 50 per cent increase in the delivery of smart watches and wireless headphones.
Xiaomi, which increased its quarterly revenue in the service segment by 9.1 per cent to USD 1.17 billion, demonstrated the strength of its service-oriented business model with a 77.5 per cent profit margin in this area.
The number of monthly active users of internet-connected Xiaomi devices reached 685.8 million worldwide with an annual increase of 10.1 per cent, while in China, it stated that it provides access to 167.9 million monthly users. This figure includes all devices such as smartphones, tablets and smartwatches.
