Tech giant Xiaomi reports 20% revenue growth in H1
INTERNATIONAL – China's tech giant Xiaomi reported 20.2-percent revenue growth in the first half of this year. Its revenue in the January-June period totaled 95.7 billion yuan ($13.6 billion), the Beijing-headquartered company announced Tuesday in its H1 financial results.
Its adjusted net profit rose 49.8 percent year on year to 5.7 billion yuan. In the six months, Xiaomi posted 9.8-percent revenue growth in the smart mobile phone sector with a global shipment of about 60 million units.
Its revenue from overseas business grew 33.8 percent year on year to 38.6 billion yuan, accounting for over 40 percent of the total. In the second quarter, Xiaomi's smartphone shipment in western Europe soared 53.2 percent, the fastest growth among major brands.
Meanwhile, its shipment in India has been at the top 1 for eight quarters in a row. Lei Jun, founder, chairman and cief exceutive of Xiaomi, said despite a tough business environment, Xiaomi has managed to achieve solid growth in its businesses in the first half of the year.
"Looking ahead, we will continue to strengthen our R&D and investment to capture the great opportunities brought by 5G and AIoT markets," said Lei.