Xiaomi’s revenue in 2019 exceeded $ 29 billion

Xiaomi today released a report for the fourth quarter of 2019 and for the year as a whole.

Revenue for the quarter was $ 7.96 billion, which is 27.1% more than in the fourth quarter of 2018. It is noteworthy that operating profit in annual terms decreased by 16.1%, to 380 million dollars. Net profit declined even more – by 28.2%, which turned out to be equal to $ 343 million.

If we talk about the year as a whole, in 2019, the Chinese manufacturer was able to receive $ 29 billion in revenue. This value was a record, exceeding the value from the report for 2018 by 17.7%.

Operating profit for the year was $ 1.66 billion. This is 882.9% more than in 2018. At the same time, net profit decreased by 25%, to 1.42 billion dollars.

Compilers of the report note that when calculating not according to IFRS, the growth of quarterly net profit is 26.5%, annual – 34.8%.

Among the statistics given in the report, one can single out the number of smartphones sold per year: 124.6 million units. Of this amount, the fourth quarter accounts for 32.6 million units, which is 30.5% more than was sold in the fourth quarter of 2018.