Xiaomi's revenue exceeded $29 billion in 2019

It was a record value.

Xiaomi today published its report for the fourth quarter of 2019 and for the year as a whole.

Revenue for the quarter was $7.96 billion, 27.1 percent higher than in the fourth quarter of 2018. It is noteworthy that operating profit in annual terms decreased by 16.1%, to $380 million. Net profit decreased even more strongly - by 28.2%, which amounted to $343 million.

If we talk about the year as a whole, in 2019, the Chinese manufacturer was able to get $29 billion of income. This value was a record, exceeding the value from the report for 2018 by 17.7%.

Operating profit for the year was $1.66 billion. This was 882.9% more than in 2018. At the same time, net income decreased by 25% to $1.42 billion.

The authors of the report note that the quarterly net profit growth is 26.5%, while the annual net profit - 34.8% when calculated by the method other than IFRS.

Among the statistics given in the report, one can single out the number of smartphones sold for the year: 124.6 million units. Of this number, 32.6 million units are sold in the fourth quarter, which is 30.5% more than in the fourth quarter of 2018.

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