Xiaomi achieves record high revenue and profit in Q1 2021
Xiaomi Corporation (stock code:1810), had recently released its unaudited financial results for the first quarter for 2021 and they are doing very, very well especially with the ongoing worldwide pandemic.
Some of the key highlights are
RMB 76.9 billion (RM 49.9 billion) in revenue (over 50% growth compared to the previous year)
Gross profit is around RMB 14.2 billion (RM 9.2) BILLION (over 85% compared to the previous year)
No.1 spot in the Malaysian premium smartphone market (according to Canalys)
Holding 14.1% of the global market share in Q1 2021 (Canalys)
These are some of the highest records that Xiaomi Corporation has ever achieved and they claim that this is all thanks to their demonstration of robustness in their business models and strong execution of strategies. Xiaomi also announced that they will enter the smart vehicle business in the following decade, ensuring a bright future for the company.