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Xiaomi records 64% higher revenues in Q2-21

Xiaomi records 64% higher revenues in Q2-21

Mubasher: China-based Xiaomi Corp reported a 64% increase in revenues to 87.8 billion yuan ($13.56 billion) during the second quarter (Q2) of 2021, compared to 53.54 billion in the year-ago period.

The company's net income hiked by 87.4% to 6.32 billion yuan in Q2-21 from 3.373 billion yuan during the corresponding period of 2020, according to a press release on Wednesday.

During the first six months of 2021, the smartphone maker's revenues jumped by 59.5% to 164.67 billion yuan, versus 103.24 billion yuan in the corresponding period of 2020.

The company has witnessed a strong performance in Q2-21, its smartphone shipments in mainland China were placed among the top three, with a market share of 16.8%.

Because of the strong growth in smartphone shipments, the company saw a high record in monthly active users (MAU) of MIUI both globally and in mainland China in June 2021 to register 453.8 million and 124 million, respectively.

The company also announced that it had signed the share purchase agreement to fully acquire Deepmotion Tech Limited, an autonomous driving technology company, in exchange for $77.37 million.