In the first quarter of 2021, Xiaomi’s smartphone business continued to grow significantly. Revenue from smartphone sales grew by 69.8% to RMB51.5 billion year-over-year. Global smartphone shipments in the period reached 49.4 million units and the gross profit margin for the smartphone business was 12.9%.
According to Canalys, the Group maintained 3rd position in terms of smartphone shipments globally during the quarter, registering a market share of 14.1%
Xiaomi’s smartphone business in mainland China has also maintained its rapid growth trajectory. According to Canalys, in the first quarter of 2021, Xiaomi rose to the 4th position winning a market share of 14.6%.
Meanwhile, Xiaomi attained the No. 4 spots in Africa as smartphone shipments increased 191.0% year-over-year.
The Group further strengthened its market position across online channels. According to third-party data, Xiaomi’s online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020.
Meanwhile, it also expanded its offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.
Overseas markets maintain growth momentum achieving explosive growth across Europe
In the first quarter of 2021, Xiaomi’s revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, Xiaomi’s market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally and No.1 in 12 countries and regions.
Xiaomi further improved its competitive positioning in key markets. According to Canalys, in the first quarter of 2021, the Group was ranked among the top two for the first time in Europe following an 85.1% year-over-year increase in smartphone shipments allowing us to retain a market share of 22.7%.
Notably, Xiaomi was ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as smartphone shipments increased 81.8% year-over-year to reach a 32.5% market share. Xiaomi was also ranked No. 1 for the first time in Russia with a market share of 32.1%.
The Group retained its top 3 positions in Western Europe as market share rising to 16.6% following an 89.3% year-over-year increase in smartphone shipments. The Group was ranked No. 1 in Spain for the 5th consecutive quarter after achieving a 35.1% market share.
Additionally, Xiaomi’s market position rose to No. 2 in Italy and it retained the No. 3 spots in Germany and France and entering the top 5 in the U.K. for the first time, all with a growth rate in shipments exceeding 90% year-over-year. Moreover, Xiaomi was ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments where it has a market share of 28.3%.
The Group continued its strong growth momentum in new markets. According to Canalys, its position in Latin America rose to No. 3 as smartphone shipments increased 161.7% year-over-year to reach an 11.5% market share. Additionally, Xiaomi ranked No. 3 in the Middle East as smartphone shipments increased 87.8% year-over-year.
As of March 31, 2021, Xiaomi has also established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.