Xiaomi reported its performance in the last quarter of 2020 and, with a 37% increase in profit obtained, the Chinese smartphone maker is already approaching Apple and Samsung. The results, which were made public on Wednesday (24), reveal US $ 491 million of adjusted net income – much higher than expected by analysts.
Despite the high prices recorded in the segment of smartphones and other electronics due to the pandemic of covid-19, the company achieved a growth of 38.4% in the sector. The manufacturer’s wave of popularity also affected sales, which rose 25%.
Xiaomi competes with Samsung and Apple
This is not new information: since its boom in the cell phone market, Xiaomi has gradually taken the place of major brands in users’ pockets. These results, however, are a milestone for the Chinese manufacturer, which consolidated itself in the third position of the sector on a global scale.
Now, its name is only behind Samsung and Apple, taking Huawei off the podium – which, it is worth mentioning, suffered great losses after being prevented from having to negotiate with companies in the United States.
Growth doubled in China
In addition, Xiaomi’s sales have almost doubled in China. In 2019, the company dominated only 9.2% of the local market, which increased to 14.6% in the last quarter of 2020. Also according to the released report, which had the participation of the company Canalys, the leadership in India was maintained and the first place in Europe was conquered.
In a statement, the chairman of the Chinese giant, Wang Xiang, expressed concern about the scarcity of chips and processors caused by the pandemic – a fact that has driven up electronics prices. As a protective measure, the executive said that Xiaomi has been working with partners to create a solid supply chain. Finally, Xiang declared that he is optimistic for the year 2021.