Xiaomi Group recently announced its performance report for the first quarter of 2020.
During the reporting period, Xiaomi Group realized operating revenue of CNY49.7 billion, a year-on-year increase of 13.6%; and its net profit after adjustment was CNY2.3 billion, a year-on-year increase of 10.6%.
In the first quarter of 2020, Xiaomi Group continued to promote its "smartphone and AIoT" dual engine strategy and achieved positive results around the world.
According to statistics from Canalys, the global mobile phone market saw an overall decline due to the impact of COVID-19 in the first quarter of 2020; however, Xiaomi achieved a contrarian growth and became the fastest growing company by shipment among the world's top five smartphone manufacturers.
It is said that the global monthly active users of MIUI reached 3.307 million, a year-on-year increase of 26.7%. In addition, Xiaomi's IoT platform device number continued to increase in the first quarter of 2020. By March 31, the number reached 2.52 million, a year-on-year increase of 42.6%.
During the first quarter of 2020, Xiaomi continued its overseas market expansion and its overseas market revenue reached CNY24.8 billion, a year-on-year increase of 47.8%. Xiaomi's smartphone shipment in the Western European market increased by 79.3% compared with the same period of last year.