Fast-expanding Chinese tech powerhouse Xiaomi has presented its financial results for 2021 and it is quite impressive. The company, according to the released statistics, experienced a 70% growth YoY in its adjusted net profits for 2021. The financials also indicate a growing diversification of the company which is also reflected in the earnings structure.

The audited consolidated financial statement of the company for the year ended December 31, 2021, was presented via a press statement. The outlook indicated a robust growth trajectory of Xiaomi’s overseas operations as it continues to have a chunk of the market in global smartphone shipments. Despite the challenges in the global market, the company was able to ride on the waves to deliver another strong performance for 2021.

As per the financial results, Xiaomi recorded a 33.5% growth in total revenue for the year 2021 while the adjusted net profits rose by 69.5% from 2020. The corresponding figures were 328.3 billion yuan ($51.6 billion) in total revenue and 22 billion yuan ($3.45 billion) in adjusted net profit for 2021.

The financial results for 2021 indicate that Xiaomi has moved stoutly to fill the void left by Huawei in the wake of US sanctions on the former Chinese powerhouse. Xiaomi had undertaken a vigorous campaign that has seen it in a leading position in global smartphone shipments.

The Xiaomi ecosystem of consumer products continues to find itself in far-flung places as evidence of the progress the company has made on several fronts. According to the data released by the company, emerging markets sustained strong growth momentum in Latin America and Africa. Xiaomi indeed rose to third place in both regions in terms of smartphone sales.

The company expects to sustain these impressive statistics for the year 2022, as it continues to pursue diversification of its earning trajectory with its fast-expanding tech product offerings.

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