Chinese smartphone maker Xiaomi released Q4 and 2021 earnings on Tuesday. Xiaomi smartphone shipments hit a new record, growing 30% year-over-year to 190.3 million units globally. Xiaomi’s 2021 revenue up 33.5% in a year to RMB 328.3 billion ($51.49 billion), while gross profit grew 58.5% to RMB 58.26 billion. The company earned RMB 85.58 billion in revenue in Q4 with a 29.4% quarterly growth. In addition, the company’s Internet of Things (IoT) and lifestyle products have also seen a 26.1% yearly increase. [Xiaomi press release]
Xiaomi India will partner with Shell to sell Xiaomi products at Shell gas stations, according to a release from Xiaomi India. The stations will sell Xiaomi accessories like smart bands, earbuds, and beard trimmers. Shell has more than 283 fuel stations in India. Xiaomi accounts for a 21% share of the Indian smartphone market, shipping 9.3 million units in Q4 2021, according to Canalys. [CRN India]
Three major Chinese phone manufacturers, Oppo, Vivo, and Xiaomi, informed their suppliers that their order volume from July will be 20% less than expected, Nikkei Asia reported on Wednesday. The report cites sources who said that Xiaomi initially planned to ship 200 million smartphone units in 2022, but the company has since cut that number to 160-180 million. Vivo and Oppo reportedly informed suppliers that orders for the second and third quarters of 2022 will be 20% lower than expected. As the Shanghai lockdown continues, the report states that disrupted supply chains and weakened demand are considerations for supply reduction.
Lei Jun, CEO of major Chinese phone maker Xiaomi, stated on Wednesday that the company’s second smart factory will begin production in late 2023. A representative from the consumer electronics firm told TechNode that the firm began building the fully automated factory in Beijing’s suburban Changping district last July. Covering 58,300 square meters, the new factory is expected to have an annual output of 10 million smartphones, with an estimated production value of $60 billion. Xiaomi’s first smart factory is also located on the outskirts of Beijing, in Yizhuang, and began operating in 2019. [Xiaomi statement, in Chinese]
Xiaomi has invested in AI Micron, a Shanghai-based semiconductor company that focuses on designing microchips specifically for in-car video transmission. It’s the latest bet by the smartphone giant on the country’s smart electric vehicle sector. The five-year-old chip developer has raised its registered capital by 13.3% to RMB 1.84 million ($291,600), with Hubei Xiaomi Changjiang Industrial Investment Fund, an investment firm formed by Xiaomi, being added as a shareholder, according to corporate data site Tianyancha. AI Micron is also backed by state-owned automaker BAIC. [PE Daily, in Chinese]
Intelligent Terminal Golden Seal Alliance (ITGSA), an alliance formed by Alibaba, Baidu, OPPO, Tencent, Vivo, and Xiaomi, announced on Thursday that it will push to drop support for 32-bit apps. The processing power of these apps is slower, older, and less secure, while newer 64-bit apps run faster and are the current mainstream choice for mobile devices. Beginning in April, Oppo, Vivo, and Xiaomi app stores will cease supporting all 32-bit apps, except for gaming apps. Google Play dropped 32-bit apps last year, while Apple began phasing out 32-bit apps with the launch of iOS 11 in 2017. [ITGSA]
Chinese smartphone maker Xiaomi released the new Redmi Note phones on Tuesday, marking a further move into higher-end markets for the brand.
Leading automakers have been embracing high-voltage battery systems, a technology and a longer driving range.
Xiaomi has hired Yu Liguo, a former senior executive at state-owned automaker BAIC Motor, to lead its autonomous electric vehicle project.
BYD is making a play for a bigger share of the electric vehicle (EV) battery market, as local media reported on March 25 that Nio is currently testing BYD’s lithium-ion batteries for use in its electric crossovers, citing people familiar with the matter. Smartphone maker Xiaomi also recently reached an agreement with Fudi Battery, a spin-off of BYD, to test and validate its first car with the automaker’s so-called blade batteries, which boast less risk of overheating than cobalt batteries, according to the report. The companies declined to comment on the report. [36Kr, in Chinese]