Xiaomi Mobile Company 2023 Net Profit Increased By 14.6%; In Billion Amount

Xiaomi has showcased its best smartphones this year, including the Xiaomi 14 Series, whose features are being liked a lot by users; all these smartphones have taken Xiaomi’s sales to a height that seems impossible to be broken by any other company. 

Let’s look at last year’s sales. Xiaomi has maintained its No.3 global smartphone shipment position for three consecutive years. It reached 145.6 million units last year with an annual smartphone revenue of RMB157.5 billion and a gross profit margin of 14.6%. 

Amidst these tough competitions, the average selling price of smartphones in China increased by more than 19% year on year in 2023. According to the data, Xaiomi’s market share in smartphone sales in the RMB4,000-RMB6,000 price segment would reach 16.9% in 2023, a significant increase of 9.2 % points. With this, the sales ranking in the same price segment increased to 1 in the fourth quarter. Xiaomi’s status has grown rapidly in the market. 

If we talk about the global level, then it has established its status here and there. Xiaomi’s smartphone shipments were ranked in the top three in 51 countries and regions while in the top five in the remaining 65 counties. On the other hand, it remained at number three in Latin America, Africa, and Southeast Asia. 

But this year, in 2024, we expect that this year will set a new record at the global level, and its share can also increase by 8.4%, which will be most beneficial for the company. 

Leave a Comment