In 2021, Xiaomi’s total revenue for the year reached RMB328.3 billion, an increase of 33.5% year-over-year while adjusted net profit for the year came in at RMB22.0 billion, representing an increase of 69.5% year-over-year with both annual metrics beating consensus.
Xiaomi’s global smartphone shipments grew 30.0% year-over-year to reach 190.3 million units, a record high. According to Canalys, in 2021, Xiaomi smartphone shipments ranked No. 3 globally with a record-high market share of 14.1%.
The overseas business recorded robust growth as Xiaomi continued to advance its overseas strategy last year. In 2021, revenue from overseas markets reached RMB163.6 billion in 2021 increasing 33.7% year-over-year and accounting for 49.8% of total revenue.
Overseas internet revenue reached RMB5.0 billion in 2021 increasing 84.3% year-on-year and accounting for 17.8%.
According to Canalys, Xiaomi’s market share of smartphone shipments ranked No. 1 in 14 countries and regions and among the top five in 62 countries and regions globally. In Europe, Xiaomi’s smartphone shipments in Europe ranked No. 2 in 2021 with 22.5% market share.
Emerging markets maintained strong growth momentum. In Latin America and Africa, Xiaomi’s smartphone shipments in 2021 grew 94.0% and 65.8% year-on-year, respectively, and were the No. 3 smartphone vendor in both regions.
According to Canalys, Xiaomi shipped more than 25 million smartphones through carrier channels in overseas markets (excluding India, Sri Lanka, Nepal and Bangladesh) in 2021, an increase of over 120% year-over-year.
Xiaomi’s smartphone market share through carrier channels ranked top 3 in 34 overseas markets, with carrier channel market share in Europe increasing from 7.9% in 2020 to 16.8% in 2021, according to Canalys.
Premium smartphone shipments as a percentage of our total shipments increased from approximately 7% in 2020 to approximately 13%.
Xiaomi remains focused on executing the “Smartphone × AIoT” strategy globally.
As of December 31, 2021, the number of connected devices (excluding smartphones, tablets and laptops) on its AIoT platform reached 434 million, an increase of 33.6% year-over-year; the number of users with five or more devices connected to Xiaomi’s AIoT platform (excluding smartphones, tablets and laptops) reached 8.8 million, representing a year-over-year increase of 40.4%.
In December 2021, the MAU of our AI Assistant reached 107.0 million, up 23.3% year-over-year, and the MAU of our Mi Home App grew to 63.9 million, representing a year-over-year increase of 42.0%.
Xiaomi’s global shipments of its smart TV reached 12.3 million units against an overall decline in the global TV market in 2021. According to All View Cloud (“AVC”), smart TV shipments ranked No. 1 in mainland China for the third consecutive year, ranking among the top five globally.
Global shipments of air conditioners exceed 2 million units, increasing over 70% year-over-year in 2021.
Xiaomi’s smart large home appliance category, which comprises air conditioners, refrigerators, and washing machines, also delivered strong growth with revenue increasing over 60% year-over-year in 2021.
Within this category, shipments of Xiaomi smart air conditioner exceeded 2 million units in 2021.
Xiaomi launched Xiaomi Pad 5 series in August, 2021 and has received widespread popularity; its shipments ranking in mainland China rose to No. 4 in the fourth quarter of 2021, according to Canalys.
In 2021, Xiaomi’s IoT and lifestyle products segment revenue increased 26.1% year-over-year to RMB85.0 billion.
In 2021, Xiaomi’s internet services business maintained solid growth despite increased industry challenges. In 2021, its internet services revenue reached RMB28.2 billion, an increase of 18.8% year-over-year.
In December 2021, the global MAU of MIUI increased 28.4% year-over-year to 508.9 million. Xiaomi added 112.5 million MAUs of MIUI globally in 2021, including 18.9 million new users in mainland China.
In 2021, its advertising revenue reached RMB18.1 billion, representing an increase of 42.3% year-over-year.
In 2021, Xiaomi’s R&D expenditures reached RMB13.2 billion, an increase of 42.3% year-over-year. Xiaomi plans to invest more than RMB100 billion in research and development over the next five years.
In 2021, Xiaomi established its robotics laboratory and launched the bio-inspired quadruped robot CyberDog Engineering Explorer Edition; furthermore, the company introduced Xiaomi Smart Glasses representing Xiaomi’s extensive exploration of future technology.