On February 13, Xiaomi Group issued a voluntary statement, announcing a series of data such as revenue and R&D expenses in 2019.
The announcement shows that Xiaomi’s total revenue in 2019 is expected to exceed 200 billion yuan ($28.62 billion), and research and development costs are expected to be about 7 billion yuan ($1 billion). At the same time, it is also expected that the R&D investment for the whole year of 2020 will exceed 10 billion yuan ($1.43 billion). Xiaomi Group stated that it will always adhere to the technology industry and continue to invest in research and development. Also, it will continue to focus on ‘5G + AIoT’ in order to continue to expand its leading edge in smart life.
For the entire year of 2019, Xiaomi Group adhered to a stable operation and continued to promote the ‘smartphone + AIoT’ dual-engine strategy. As of September 30, 2019, the total cash reserve has reached 56.6 billion yuan ($8.1), achieving the industry’s outstanding inventory level. 5G rushed into battle.
In addition, at yesterday’s ‘pure live broadcast’ press conference, Lei Jun also introduced Xiaomi’s current achievements. Xiaomi successfully entered the Fortune 500 in 9 years, and currently ranks No. 468.
Though the global smartphone sales fell by 1.1% in 2019, Xiaomi’s smartphone shipments increased by 31.1% year-on-year. According to the sales data of Q4 2019, Xiaomi is already the world’s fourth largest smartphone manufacturer.
This simply means Xiaomi’s strategy of 5%-revenue works and the company will continue the same in the coming years. At least, Lei Jun announced they will invest more in the R&D.