As you already know, today, Xiaomi Group announced its 2021 Q2 achievements. Lei Jun also shared relevant data: total revenue is 87.8 billion yuan ($13.55 billion), an increase of 64%; net profit is 8.3 billion ($1.28 billion), an increase of 83%; adjusted net profit is 6.3 billion ($0.97 billion), an increase of 87%; the cash reserve is 111.6 billion yuan ($17.23 billion). These numbers are quite impressive. But for ordinary users they may not be too interesting. Instead, we guess our readers are more interested in smartphone sales, Xiaomi TV shipments and similar data. As for the former, we have already talked, saying Xiaomi ranked first in 22 global markers and second in the world. So what about the Xiaomi TV products?
As Xiaomi’s financial report shows, research and development expenses this quarter were 3.1 billion yuan ($0.48 billion), an increase of 56.5%. MIUI global active users reached 454 million, while Xiao Ai’s monthly active users exceeded 100 million for the first time.
It is worth mentioning that the Xiaomi TV has ranked first in China for 10 consecutive quarters.
Xiaomi TV Rocks
On August 10, the company launched the Xiaomi Mi TV 6 OLED. It is considered to be the first OLED TV for young people. In terms of price, the 55-inch version’s retail price is 5699 yuan ($878).
Lu Weibing, general manager of the Redmi brand, said that the Xiaomi TV may bring a new situation to the OLED TV market. And looking at the features it comes, and the price it is available it, there is every reason to think Lu Weibing’s words are close to reality.
As early as 2019, Pan Jiutang, a partner of Xiaomi’s industry investment department, expressed his opinion, saying he believes that Xiaomi’s success is mainly due to the following three points:
- Supported by a strong Chinese manufacturing/industry chain;
- Xiaomi brand appeal and channel efficiency can save 10-30% of marketing/channel costs compared with traditional enterprises;
- The cost scale effect of Xiaomi’s explosive product strategy, simplifying the supply chain/finished product/material inventory brought by a large number of models.
Generally, the Xiaomi TV evolution is very interesting in terms of observation. The company started making large-screen products since 2013. And in 7-8 years, it could beat many traditional TV makers. At the moment, it has no equals in China and India. And in the world, it has entered the top five. This simply means, in a short period of time, Xiaomi was able to outrun many big names.