Xiaomi reported Q2 revenues of 45.2 billion yuan with an increase of 68.3%. Its profit grew to 2.12 billion yuan, an increase of 25.1% YoY. Overseas markets revenues grew 151.7% YoY to 16.4 billion yuan (36.3% of total).
Xiaomi Group took in some 10.64 billion yuan (US$1.66 billion) in revenue through direct sales channels in Q1 2018, around 34.4% of its total revenue. Online direct sales, including Xiaomi Mall, the company’s flagship platform, accounted for some 8.13 billion yuan (US$ 1.27 billion) of that total. Offline direct sales brought in around 2.52 billion yuan (US$ million).
In addition, Xiaomi took in around 20.3 billion yuan in revenue from its distribution channels, accounting for 65.60% of the total. 9.59 billion yuan (US$ 1.50 billion) came from online distribution channels and 10.71 billion (US$1.68 billion) from offline ones.
At the end of Q1, there were 331 Mi Home locations in China; Xiaomi’s offline sales, both direct and distribution, have grown to be responsible for 42.73% of its revenue.
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