Xiaomi, the most popular technology manufacturer of recent times, announced its first quarter financial report of 2020. Statements by Xiaomi reveal that the company’s revenues are in the $ 7 billion band. Also, the coronavirus pandemic does not seem to affect Xiaomi’s smartphone sales.
As it is known, the world has been in an extraordinary process since the first days of 2020. The coronavirus epidemic that emerged in China and spread all over the world negatively affected both human life and the sectoral world.
The coronavirus has also seriously affected smartphone sales, and most companies have reached sales figures well below expectations. However, this whole process seems to have not affected Xiaomi’s smartphone sales at all. Because today, the company released its last quarter financial report and showed that their revenues were far beyond their expectations.
Pandemic process did not affect Xiaomi’s smartphone sales
Xiaomi said that despite the declining demand in the coronavirus epidemic process, there was no decline in smartphone sales. Expressing that there are no problems regarding production, the officials stated that the demands were responded rapidly and that the production in mainland of China continued almost completely.
The company’s smartphone revenues exceeded the $ 7 billion mark in the first quarter of 2020, according to statements by Xiaomi officials. The amount of sales in the same period of last year was announced as $ 6.15 billion. Analysts had predicted that Xiaomi’s phone sales volume in the first quarter of 2020 would be $ 6.75 billion.
The most important factor in increasing Xiaomi’s revenue is the 5G-powered phones that meet expectations at the company’s price / performance point. Because Xiaomi’s 5G connectivity supported smartphones are affordable, making it the first choice for consumers in both China and other countries. As such, Xiaomi took a few steps ahead of all of its major and small rivals.
In addition, Huawei’s lack of Google services strengthens Xiaomi’s hand. Thanks to Google applications, the company has to compete with Samsung in general in the international market in the middle and entry segment and outperform Samsung at the price point.