Xiaomi Corp (XIACF) Q2 2021 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining our 2021 second quarter earnings call. Firstly, I'm very, very excited to share with you our remarkable results to achieve this quarter. Building on our strong growth momentum, both quarterly revenue and adjusted net profit reached record highs. Our total revenue reached 87.8 billion RMB And our adjusted net profit reached 6.3 billion RMB, up 64% and 87.4% year-over-year, respectively. We have been included on the Fortune Global 500 list for the third consecutive year, ranking 338 in 2021, up 84 slots from last year. Our smartphone business achieved significant milestones this quarter. We became the world number two smartphone company in terms of global shipments as we increased the market share across all key regions. Notably, we ranked number one in Europe for the first time and increased our market share in the region to 28.5%. Our premium smartphones continue to gain popularity and attract new Xiaomi users. In the first half of 2021 alone, our premium smartphone shipments exceeded 12 million units globally, compared with around 10 million units in all of 2020. To further advance our smartphone multiplies AIoT strategy, we recently launched multiple exciting new products. This includes Xiaomi MIX 4, our new premium smartphone featuring a stunning full-screen display with camera under panel. Xiaomi Tab 5 series, our first tablet since 2018. Xiaomi Sound, our first premium smart speaker companion. All of these products reflect our relentless pursuit of technological breakthrough in our premium products. Our ability to offer innovative technologies comes from our people. To recognize employees who have made outstanding contributions in July, we announced two equity award grants totaling about 190 million shares to about 4,000 pa...