Xiaomi reports 13.6% revenue growth in Q1

Its total revenue in the January-March period totaled 49.7 billion yuan (about 7 billion U.S. dollars), the Beijing-headquartered company announced Wednesday in its quarterly financial report.

Chinas tech giant Xiaomi reported 13.6 percent year-on-year revenue growth in the first quarter of 2022 despite the COVID-19 epidemic.

File photo/Hua Ang (NBD)

Revenue from the overseas markets amounted to 24.8 billion yuan, up 47.8 percent year on year and accounting for half of its total revenue, Xiaomi said.

Benefiting from the continued expansion in its global smartphone market share, the monthly active users of Xiaomis Android-based smartphone operating system MIUI increased to 330.7 million, a year-on-year increase of 26.7 percent.

Its smartphone shipments in western Europe increased by 79.3 percent year on year, attaining the largest market share in Spain for the first time, Xiaomi cited data from technology market research firm Canalys as saying.

Adjusted net profit for the period was 2.3 billion yuan, up 10.6 percent year on year.