Xiaomi announces 2020 full-year financial report and various personnel adjustments



Not long ago, Xiaomi announced the group 2020 full-year financial report. The data shows that their total revenue and adjusted net profit during the year reached 245.9 billion and 13 billion yuan, respectively, with an increase of 19.4% and 12.8% the following year. Among them, the revenue of the mobile phone department was 152.2 billion yuan, an increase of 24.6% compared to a year ago. The corresponding global shipments reached 146 million units, an increase of 17.5% the following year. Among them, the sales of “high-end” mobile phones priced at more than 3,000 yuan in China and more than 300 euros overseas have sold close to 10 million units.

At the same time, the number of IoT devices connected to Xiaomi’s AIoT platform has reached 325 million units, an increase of 38% over a year ago. The number of monthly active users of Mijia app and Xiao Ai were 45 million and 86.7 million, respectively, and the two-year increase was 22.1% and 43.5% respectively. In addition, in the TV sector, Xiaomi’s global shipments reached 12 million units last year, and the monthly active users of smart TVs and Xiaomi boxes increased by 48% every other year. As for network services, it reached 23.8 billion yuan, an increase of 19.7% from a year ago, of which overseas service revenue increased by 55.1% the following year. The number of global MIUI monthly active users has reached 396 million, an increase of 28% the following year. In addition, in Q4 last year, Xiaomi’s advertising revenue also reached RMB 3.7 billion, setting a new single-quarter high for the company.

While announcing its 2020 results, Xiaomi also announced a series of personnel changes. Co-founder and senior vice president Liu De will serve as the executive director of the group and continue to serve as the head of the organization department, reporting to CEO Lei Jun. Zeng Xuezhong and Zhang Feng, both in charge of mobile phones and overseeing the business of notebooks, TVs, and major appliances, were promoted to senior vice presidents of the group and reported directly to Lei Jun. Zhou Shouzi, the former senior vice president and president of the International Department, who has been with him for six years, has decided to leave Xiaomi. In the future, he will go to his hometown of Singapore to serve as the CFO position of ByteDance. Next, the President of the International Department will be concurrently served by Lu Weibing, President of China and General Manager of Redmi, who will also be promoted to Senior Vice President of the Group.

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