Xiaomi's earnings in 2018 saw strong growth despite the slowdown in the global market

While 2018 was not the best year for the smartphone market due to weak growth of 0.1%, Xiaomi appears to be in good shape compared to its competitors. The company released its annual financial report yesterday and the numbers show a steady increase in all respects, including a 52.6% increase in revenue from 2017, to reach 26.06 billion US dollars. The company's international revenues increased 118.1% to $ 10.43 billion, representing 40% of the company's total revenue.

According to Xiaomi's general manager, Mr. Lei Jun, he explained that the company's success is focused on the development of the three main categories of hardware, Internet and commerce. This strategy essentially consists of separating devices, including their smartphones and other smartphones, software and other online services, as well as a chain of retail stores dedicated to selling their products.

Xiaomi controlled the Indian market, a market in which the company held 30% of the market, and significantly increased its smartphone shipments to Western Europe by 415.2%.

Revenues from other Xiaomi divisions, such as the Internet of Things and the section responsible for lifestyle products, continued to grow to US $ 6.53 billion. The company's revenues from its online services increased by 61.2% over 2017 to reach $ 2.38 billion.

Regardless of the impressive figures in all areas, these figures show Xiaomi's intention to focus on the availability of a full set of computer hardware and software while it expands to beyond China by expanding its activities to other regions such as India, Indonesia and Western Europe.

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