Xiaomi has recorded its lowest sales growth in India last year. Although, the company still managed to clock in profit in 2020, despite the overall decline in the world’s second largest smartphone market.

According to an EconomicTimes report, the Chinese tech giant saw a sales growth of just 7 percent year on year over 2019, reaching 38,196 crore INR (roughly 5.2 billion US Dollars). However, despite its modest growth the company still registered a profit of 401 crore INR (roughly 55 million US Dollars) last year after sustaining a 148 crore INR (roughly 20 million US Dollars) a year prior. At the moment, the company has yet to reveal the exact reason behind its slowed sales growth.

Although, industry experts have stated that the company has been trying to strengthen its presence in the mid to high end smartphone segments. Furthermore, its is also working on expanding within the Smart TVs segments. For those unaware, the premium segments also offer higher profit margins. While Xiaomi did see growth slowing last year, it is still India’s largest smartphone maker in terms of units sold, with its total market share being 26 percent.

Samsung and Vivo arrived second and third respectively in that market, with a 21 percent and 16 percent market share. But in terms of revenue, Xiaomi now ranks third, behind Samsung and BBK Group, which is the parent company of Oppo, OnePlus, and Realme. The Chinese smartphone maker also added that “All efforts shall continue to be made to increase the revenue and retained earnings in the upcoming years.”

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India has always been a hotbed for Chinese smartphone makers and Xiaomi has achieved tremendous success in the Asian country since it set sail over there. The Chinese smartphone giant has disclosed that has sold over 100 million smartphones in India since it opened shop five years ago.

Mi fans, with immense pride we announce that we've has officially shipped 100 Mn smartphones.

We reached this mark in just 5 years. The fastest brand to do so. #NoMiWithoutYou

RT with #XiaomiIndia, #100MillionXiaomi, & tag @manukumarjain to win 100 #Xiaomi products pic.twitter.com/nVtaO0cfMA

— Mi India for #MiFans (@XiaomiIndia) September 6, 2019

The announcement was made by Xiaomi India head Manu Kumar Jain. Citing IDC reports, the Xiaomi exec disclosed that the monumental feat was achieved in the period starting in Q3 2014 until July 2019. He also disclosed that the Redmi A series and the Redmi Note series contributed significantly to this feat. The sales also include those from sub-brands such as the Poco F series.

For a company that entered the Indian market in 2014, this feat is indeed a wonderful one. To put it in a statistical perspective, 100 million phones sold in 5 years translates to an average of 20 million phones per year, 1.67 million phones per month, 55,000 phones sold each day. It also means the company sold an average of 2.3k phones by the hour and 38 smartphones each minute or 2phones each second. We won’t need to look beyond the pricing and build quality of Xiaomi phones to see why the company has continued to achieve success in India where it has ranked as the number 1 smartphone vendor for the past five quarters.

UP NEXT: Xiaomi launches the compact and attractive Dr Bei Q3 Sonic Electric Toothbrush

(source)

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