Xiaomi started making large screen TVs in the early 2010s. Since then, this company has managed to become the number one smart TV brand in select markets, such as China and India. In fact, we are talking about the two largest markets in the world. Could you imagine how many Mi TV products the company is currently selling?
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Today, the China-based first-tier tech giant released its latest financial report, as of the first quarter of 2022. According to the report, Xiaomi has ranked first in terms of shipments nationwide for 13 consecutive quarters, with a market share of 22.3%.
At the same time, in the global market, Xiaomi TV’s shipments also ranked in the top five, with very strong momentum.
With the further growth of the market share, the current shipment of Xiaomi TV has reached 3 million units, a year-on-year increase of 15%. Those who don’t follow this market news should know that in the global TV market, there is a noticeable decline in shipments. So it turns out that while the smart TV sales are dropping, Xiaomi achieved a contrarian growth.
In addition, the number of Internet users of Xiaomi TV has also maintained a steady growth trend. As of March 2022, the number of monthly active users of Xiaomi smart TVs has exceeded 50 million. Among them, the number of paid users has reached 5.5 million.
Due to the increase in the number of paid users and the advertising revenue brought by the increase in the total number of users, the revenue of the TV Internet business reached 15% of the total Internet profit in this quarter. So we should write down that Xiaomi is performing quite well in the smart TV market.
It is worth mentioning that in addition to the steady growth of TV products, the number of users of Xiaomi’s other IoT products has also risen significantly. The number of devices connected to the platform has reached 478 million, a year-on-year increase of 36.2%.