Xiaomi’s revenue last quarter rose 55% year over year while its gross profit grew 87%, the company said Wednesday. Xiaomi sold 49.4 million smartphones globally in the quarter, 69% more than a year earlier. Partly that was due to comparison with a low base in 2020 when Covid-19 was at its most severe in China. But Xiaomi had a phenomenal year for more important reasons: its domestic rival Huawei was hamstrung by U.S. sanctions. Xiaomi’s global smartphone market share rose from 10% in the second quarter last quarter, just before the Huawei sanctions kicked in, to 14% last quarter, according to Counterpoint Research. Huawei’s market share fell from 20% to 4% over the same period. Xiaomi also managed to sell more expensive handsets, which boosted its profit margins...Read more
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Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.
