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Xiaomi's overseas market development may be hindered due to the spread of the epidemic
On March 31, Xiaomi released its financial results for the fourth quarter and the whole year of 2019. The financial results showed that in 2019, Xiaomi's total revenue was 205.8 billion yuan, up 17.7% year on year, and adjusted net profit was 11.5 billion yuan, up 34.8% year on year.
The growth rate is much better than that in 2018. In the revenue, the vast majority still comes from Xiaomi mobile phones. This part of revenue was 122.1 billion yuan in 2019, a year-on-year increase of 7.3%. And the growth rate of IoT is also healthy: in the whole year of 2019, Xiaomi's IoT product revenue reached 621 100 million yuan, a year-on-year increase of 41.7%.
It can be seen that some signals has already appeared for Xiaomi's transformation. The proportion of mobile phone revenue has continued to decline, and the proportion of IoT revenue has increased. And mobile phone brands have started to focus on high-end market. Overseas markets have become increasingly important. And even the proportion of emerging businesses in Internet revenue has also increased. All these show that Xiaomi has begun to get rid of the label of "a Chinese mobile phone company" and has become a multinational, multi-business company.
Of course, there are hidden concerns behind these optimistic figures. The epidemic, the largest black swan, may put Xiaomi's thriving situation in 2019 to a halt. Xiaomi has prepared enough rice grains for the winter, but the severe situation in the future may exceed their imagination.