Huami has had a really busy year and a successful one at that too. The wearable manufacturer kicked off 2020 with the Amazfit HomeStudio and Amazfit AirRun treadmills at CES 2020. It also made its entry into the TWS earbuds market with the Amazfit PowerBuds and Amazfit Zenbuds.
Its smartwatch lineup also got significantly bigger with new models such as the Amazfit T-Rex, Amazfit Bip S, Amazfit Bip S Lite, Amazfit Neo, Amazfit Bip U, Amazfit GTR 2, Amazfit GTS 2, and the Amazfit Band 5 fitness tracker. Let’s not forget its new brand Zepp, which has the Zepp E and Zepp Z smartwatches; and also, its first smart scale – the Amazfit Smart Scale. That expansive lineup of products has paid off as seen in its Q3 financial report.
The Chinese manufacturer which is listed on the New York Stock Exchange took to Weibo to brag about its wins. According to the post, the company’s total revenue for the third quarter was RMB 2.235 billion (~$339.35 million), an increase of 20% from Q3 2019.
Its shipments were also up 16% from 13.7 million units in 2019 to 15.9 million units in Q3 2020, 49.5% of which was from overseas shipment. Huami says the increase in sales was mainly driven by Xiaomi’s Mi Band 5 along with new models of its Amazfit smartwatches and earbuds.
EDITOR’S PICK: Understanding Huami’s Amazfit Bip line of smartwatches
Huami also revealed that COVID-19 affected its sales negatively last quarter resulting in the delay of the launch plan of new products as well as production delays, however, it managed to record growths in some markets in Europe as well as China and the U.S.
The Chinese manufacturer also revealed that its R&D expense for Q3 2020 is RMB 173 million (~$26.3 million), a 38.8% increase from that of Q3 2019. Its sales and marketing budget also increased by 104.2% for a total of RMB 115.6 million.
Huami also disclosed that it has expanded its overseas channels. Its products are now available on AliExpress, Walmart, Best Buy, Flipkart, MediaMarkt, and Reliance Digital.
While we still have a month to go before the year ends, we expect Huami still has a few announcements before wrapping up this year. We have found evidence of an Amazfit Bip U Pro, and the FCC has also certified new smartwatch models such as the Amazfit GTS 2e and Amazfit GTR 2e as well as the Amazfit GTS 2 Mini. However, there is a chance some of these new products may be delayed till early next year.
UP NEXT: Amazfit Smart Scale2 is on the way; first-gen now available for $49.99
