An increase in smartphone shipments, particularly in Southeast Asia, has contributed to increasing the revenue of the second quarter of Xiaomi by 30.5%, said the smartphone company and EV Tuesday, against the background of a slow global market.The president of Xiaomi Lu Webing, however, slightly reduced the goal of the company on smartphone shipments to 175 million from a 180 million year goal established in the first quarter.
“We expect that the general smartphone market will see little or no growth this year,” LU said to a teleconference with journalists. “If there is any increase, it could be about 0.1% to 0.2%. It is a little different from the growth we had expected at the beginning of the year,” he said.
The entrances for the quarter closed on 30 June were 116 billion yuan ($ 16.16 billion), beating the average of 114.7 billion yuan of 15 analysts of analysts compiled by LSEG.The rectified net profit increased by 75.4% on an annual basis for 10.8 billion yuan, exceeding the average estimate of 10.1 billion yuan, according to LSEG data.
The third largest smartphone manufacturer in the world became the best-selling smartphone brand in Southeast Asia in the second quarter and took second place from shipments to Europe, said.
On a global level, it was in third place, with a market share of 14.7%, said the company, citing the data of Canalys researchers.
The shipments of global smartphones of the second quarter of Xiaomi increased by 0.6% compared to the previous year to 42.4 million phones. However, its smartphone revenues decreased by 2.1% to 45.5 billion yuan due to an average lower sale price.
His EV activity for loss generated revenue of 20.6 billion yuan during the second quarter, compared to 18.1 billion in the first quarter. He delivered 81.302 EV in the quarter of June, compared to the deliveries of 75,869 cars on January-March. His second EV YU7 model was launched at the end of June, with deliveries only from last month, which means that it is not yet reflected in the results.
Together with the AI and other new initiatives, Evs offered a total net loss of 0.3 billion yuan in the quarter of June, restricting from a loss of 0.5 billion in the first quarter. Lu said that Xiaomi is confident that it will reach a monthly or quarterly profit in its second half business, but cumulative losses remain significant after an investment of over 30 billion yuan in research and development.
Xiaomi has sold a total of 300,000 electric vehicles in July since he launched his electric vehicles activity in March 2024. Lu has also said that Xiaomi is developing the next iteration of its Mobiluppa Mobiluppa Xringo1 chip.
The actions listed in Hong Kong in Xiaomi, which also produce appliances, closed 1.2% to 52.4 dollars of Hong Kong. The stock has increased by 52% so far this year.
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