Important analysis report was shared about Xiaomi 2022 annual results, article published by Xiaomi contains quite important explanations. Leading market with its innovative products in every field, Xiaomi’s annual financial performance in 2022 is higher than expected, net profit reached ¥8.5 billion. In midst of global crises in 2022, Xiaomi achieved a total revenue of ¥280 billion by continuously improving its efficiency with its strong strategic moves.
Xiaomi Emerges from Global Crises Even Stronger
According to Canalys, Xiaomi maintained its 3rd position in global smartphone market with 150.5 million units shipped in 2022. Xiaomi’s market share in smartphone shipments in 2022 ranked among top 3 & top 5 in 54 countries/regions.
Also, global smartphone shipments around the world have been affected by global crises. However, Xiaomi has managed to effectively isolate its business from single market risks by having an excellent sales and marketing structure. As a result, it demonstrated its long-term and sustainable competitiveness by posting revenues of ¥167.2 billion year-on-year. Average selling price of its smartphones has increased for four consecutive years, reaching ¥1111.
Xiaomi has increased both sales volume and reputation with the launch of several models in cooperation with Leica. Debut of the blockbuster Xiaomi 13 series has been well received in the market. In China, Xiaomi 13 series achieved the #1 smartphone market share among Android vendors in ¥4,000 – ¥6,000 price segment for 7 consecutive weeks.
Moreover, Redmi sub-brand continues to strengthen its position in mass market. In December 2022, Redmi launched the Redmi K60 series, its first model with wireless charging technology. Entire Redmi K60 series is powered by Snapdragon flagship chipsets, and has sold over 300,000 units within the first 5 minutes of its launch.
In addition, Xiaomi has announced several exciting new technology developments at its MWC 2023 event, including 300W wired fast charging technology solid-state battery technology and Xiaomi Wireless AR Glass Discovery Edition. In short, Xiaomi will continue to grow financially as it tries to create new products and innovate. You can learn more about the research from here. Stay tuned for more.