Category: IT & Telecom

Beijing, Hong Kong: Xiaomi Corporation on Friday announced financial results for the second quarter and half year ended June 30, 2022. It declared increase in revenue to RMB 70.2 billion.

Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, announced its unaudited consolidated results for the three and six months ended June 30, 2022.

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During the reporting period, Xiaomi registered revenue of RMB70.2 billion. Adjusted net profit reached RMB2.1 billion, which included RMB611 million of expenses related to smart EV and other new initiatives.

In the second quarter of 2022, global macroeconomic turbulence and the resurgence of COVID-19 continued to impact overall market demand for smartphones, and global smartphone industry shipments declined 8.9 percent year-over-year and 7.7 percent quarter-over-quarter, according to Canalys. Against the backdrop, the Group remained focused on its preordained strategies of seeking to strengthen the fundamentals of smartphone business, further pursue development of Xiaomi’s technology ecosystem and expand foothold in global markets demonstrating strong levels of operational resilience.

Global strategy bears fruits as smartphone shipments grow for two consecutive quarters

READ MORE: Xiaomi unveils CyberOne – first ever humanoid robot

In the first half of 2022, global smartphone shipments dropped 8.9 percent year-over-year and 7.7 percent quarter-over-quarter. Despite the challenge, Xiaomi remained committed to its core strategies in pursuit of long-term and sustainable development. As Xiaomi continues to advance its dual-brand strategy, fundamentals of its smartphone business have shown tremendous resilience.

In the second quarter of 2022, Xiaomi’s smartphone revenue reached RMB42.3 billion with global smartphone shipments reached 39.1 million units, an increase of 1.5 percent quarter-over-quarter. According to Canalys, Xiaomi’s global smartphone shipments ranked No. 3 in the second quarter with market share of 13.8 percent, and its market share has increased for two consecutive quarters.

READ MORE: Xiaomi launches ultra slim MIX Fold 2 smartphone

In the meantime, Xiaomi’s international brand strength continues to solidify as it progressively expands its foothold in global markets. In the second quarter of 2022, Xiaomi’s revenue from overseas markets reached RMB34 billion, accounting for 48.4 percent of total revenue.

Benefiting from Xiaomi’s mature business model and localization experience, the Group’s market share in Europe, Latin America, Southeast Asia, Middle East and Africa all increased quarter-over-quarter. According to Canalys, in the second quarter of 2022, Xiaomi’s smartphone shipments ranked top 3 in 55 countries and regions and among the top five in 67 countries and regions. In the second quarter of 2022, Xiaomi’s smartphone shipments ranked No. 2 in Europe with 21.7 percent market share, ranked No. 3 within Western Europe with market share of 15.8 percent and ranked No.1 in Spain.

Meanwhile, Xiaomi continues to penetrate the overseas carrier channel. According to Canalys, the Group’s carrier channel market share in Europe increased from 17.0 percent in the first quarter to 18 percent in the second quarter of 2022. Xiaomi’s carrier channel market share in Latin America increased from 17.7 percent to 19.3 percent in the same period. According to Canalys, Xiaomi smartphone market share through carrier channels ranked top three in 40 overseas markets.

Xiaomi continues to earn global recognition. In August 2022, Xiaomi was named on the Fortune Global 500 list for the fourth consecutive year and ranked 266th, advancing 72 spots from 2021. By harnessing the potential of business expansion through market localization efforts, the development of a global market presence is expected to generate immense growth opportunities for Xiaomi.

Ramping up R&D investment to boost premiumization

Xiaomi has been pursuing technological innovation and quality upgrade, and is committed to strengthening its independent R&D capabilities and enhancing its core competitiveness. In the second quarter of 2022, its research and development expenses reached RMB3.8 billion, an increase of 22.8 percent year-over-year. At the latest Xiaomi product launch event, Lei Jun, founder, chairman and CEO of Xiaomi Group, revealed that Xiaomi’s R&D investment has grown at a CAGR of 39.7 percent since 2017 and is expected to reach RMB17 billion in 2022 and RMB100 billion in the next five years.

During the reporting period, Xiaomi not only launched its proprietary Surge G1 battery management chip to optimize the performance of smartphone products’ battery life but also continued to boost its premiumization strategy with significant breakthroughs in imaging technology and smartphone form factor.

In May 2022, Xiaomi announced its long-term strategic partnership in imaging technology with Leica, another milestone in Xiaomi’s premiumization development. In July 2022, Xiaomi announced its first model with Leica, Xiaomi 12S Ultra. It features a Leica Summicron lenses and Sony IMX989 one-inch image sensor, along with the Leica Authentic Look and the Leica Vibrant Look imaging profiles, delivering a highly texturized smartphone photography experience. With the release of Xiaomi 12S series, the third generation of Xiaomi high-end “performance-first, experience-first” has fully emerged. According to the JD platform, Xiaomi 12S series has been well received by the market with more than 98 percent of reviews positive thus far.

On August 11, Xiaomi’s second-generation foldable flagship smartphone, Xiaomi MIX Fold 2, was unveiled and it pushes the boundaries of the premium market once again. The product features the self-developed Micro Waterdrop Hinge and flexible ultra-thin glass to provide a revolutionary ultra-slim design and pleasant in-hand experience. Xiaomi MIX Fold 2 is equipped with Eco2 OLED flexible display, which greatly increases light transmittance while reducing power consumption. It is also equipped with the Snapdragon 8+ Gen 1 Mobile Platform processor, Leica Summicron lenses and MIUI Fold 13, which is designed specifically for foldable smartphones. Xiaomi MIX Fold 2 offers outstanding performance and exceptional user experience in terms of display, imaging and software, and has achieved strong sales since launch.

In the second quarter, according to third-party data, Xiaomi’s smartphone market share in the RMB3,000 to RMB4,000 price segment in mainland China increased 3.5 percentage points year-over-year to 18.2 percent, and in the RMB4,000 to RMB5,000 price segment, its market share rose 2.0 percentage points year-over-year to 15.5 percent. The development of Xiaomi’s premiumization strategy has become a driving force contributing to its solid development.

In addition, Xiaomi is relentlessly exploring the future and focusing on sharing the long-term value of technology. At present, Xiaomi adopts the technology deployment strategy of self-developed full stack approach to autonomous driving technology. The Group plans to invest RMB3.3 billion in autonomous driving research and development in the first phase during which it will create a fleet of 140 test vehicles to further drive technological breakthroughs. The robotics laboratory that established in 2021 has made groundbreaking achievements. On 11 August, Xiaomi launched its self-developed, full-size humanoid bionic robot CyberOne, which supports bipedal-motion posture balancing through mechanical joint motors and full-body control algorithms. Furthermore, it is capable of detecting human emotion and creating three-dimensional virtual reconstructions of the real world through self-developed audio and vision modules and algorithms. These series of self-developed high-tech products fully demonstrate Xiaomi’s technological leadership and promote the evolution and enhancement of Xiaomi’s premiumization capabilities.

Shaping new “Xiaomi Technological Ecosystem” to empower smart living era

Driven by innovation, Xiaomi has further advanced its “Smartphone x AIoT” strategy to empower a smart living era. The company is building an ever-expanding technology ecosphere spanning smartphones, wearable devices, smart home, smart manufacturing, smart EVs and bionic robots, to better connect people to the world around them and improve their lives. In tandem with the development, the Group launched a series of new products, including Mijia Dual-Drum Washer Dryer 15kg, Xiaomi Pad 5 Pro 12.4, Xiaomi Buds 4 Pro, Xiaomi Watch S1 Pro and Mijia Smart Smoke Purifier P1 elevating premium experiences and capabilities.

As of June 30, 2022, the number of connected IoT devices (excluding smartphones, tablets and laptops) on Xiaomi’s AIoT platform reached 526.9 million, up 40.7 percent year-over-year. The number of users with five or more devices connected to its AIoT platform (excluding smartphones, tablets and laptops) exceeded 10 million for the first time to reach 10.2 million, an increase of 37.0 percent year-over-year.

Xiaomi continues to enhance interconnectivity across all usage scenarios and expand a diverse smart living product portfolio. In the second quarter of 2022, Xiaomi’s revenue from IoT and lifestyle products amounted to RMB19.8 billion. Although demand for discretionary items in overseas markets was weak in the short term due to the macro-economic factors, many IoT product categories in the domestic market still achieved solid growth.

Global shipments of Xiaomi smart TV reached 2.6 million units, outperforming the overall decline in the global TV market, thanks to the cost advantages brought by the Group’s economies of scale and the lower prices of key components. The gross profit margin of smart TV business increased substantially year-over-year in the second quarter. According to All View Cloud (“AVC”), Xiaomi smart TV shipments ranked No. 1 in mainland China and maintained its top five global ranking in the second quarter of 2022.

Smart large home appliance category (including air conditioners, refrigerators and washing machines) continued to deliver strong growth with revenue increasing over 25 percent year-over-year to set a record high. Xiaomi’s air conditioner product shipments grew by over 35 percent. It is worth mentioning that as of July 2022, the company’s air conditioner shipments year-to-date has already exceeded the 2 million units in 2021, while the total tablet shipments exceeded 1.5 million units in the first half of 2022.

Monetization of overseas internet services revenue strengthens underpinned by record-high MIUI MAUs

Despite the challenges posed by macroeconomic headwinds, Xiaomi’s internet services business achieved rapid growth underpinned by sustained growth of user base and stronger content and service operations.

In the second quarter of 2022, Xiaomi’s internet services revenue reached RMB7.0 billion. Overseas internet services revenue achieved a quarterly high of RMB1.7 billion, an increase of 52.1 percent year-over-year, and accounted for 23.9 percent of total internet services revenue. Its overseas internet services business not only diversified its monetization capabilities but has also safeguarded its growth resilience amid macroeconomic uncertainties and is expected to further optimize the company’s profitability.

The continued growth of MIUI MAUs enhanced resilience of Xiaomi’s internet services business, laying a solid foundation for its long-term development. In June 2022, global MAU of MIUI reached 547.0 million while MAU of MIUI in mainland China reached 140.2 million, both hitting record highs. The Group added 17.8 million MAU of MIUI globally, including 4.6 million MAU in mainland China.

In this quarter, overseas advertising revenue increased over 50 percent year-over-year, mainly benefiting from the continued expansion of overseas user base, enhanced content and services, as well as deeper collaboration with the company’s global business partners.

Driven by smart TV shipments, Xiaomi’s TV internet user base continued its robust growth momentum in the second quarter. In June 2022, global MAU of Xiaomi’s smart TV (including Xiaomi Box and Xiaomi TV Stick) reached approximately 53 million. Revenue from mainland China TV value-added services increased nearly 25 percent year-over-year in this quarter due to optimized content operations.

In the second quarter of 2022, Xiaomi’s resilience backed by well-established capabilities has boosted market confidence amid temporary economic volatility and slowing demand. Meanwhile, Xiaomi’s continued strong organic growth momentum enabling the company to navigate short-term volatility and reshape its long-term development.

BEIJING: Xiaomi Corporation launched its Xiaomi Pad 5 Pro which provides 12.4″ display for work and entertainment.

Xiaomi Pad 5 Pro features a large 12.4″ display, which users can fully utilize for a highly efficient and convenient experience in both work and entertainment scenarios.

READ MORE: Xiaomi unveils CyberOne – first ever humanoid robot

The 12.4″ high-quality display features an ultra-high resolution of 2560×1600, 120Hz high refresh rate, and hardware-level blue light reduction, providing a comfortable and smooth experience for video-watching and swift multitasking on split-screens.

Xiaomi Pad 5 Pro’s built-in conference mode can convert speech into text in real time, quickly distinguish between different speakers, and supports real-time translation between Chinese and English.

READ MORE: Xiaomi launches ultra slim MIX Fold 2 smartphone

BEIJING: Xiaomi on Thursday August 11, 2022 launched CyberOne its first ever humanoid robot.

As the newest member of Xiaomi’s Cyber series, joining last year’s quadruped robot Cyberdog, CyberOne is fitted with advanced arms and legs, supports bipedal-motion posture balancing, and reaches a peak torque of up to 300Nm.

Also demonstrated was the ability to detect human emotion, advanced vision capabilities, and functionality allowing it to create three-dimensional virtual reconstructions of the real world, alongside a host of other advanced technologies.

READ MORE: Xiaomi launches ultra slim MIX Fold 2 smartphone

New self-developed breakthroughs in Xiaomi Technology Ecosphere

“CyberOne’s AI and mechanical capabilities are all self-developed by Xiaomi Robotics Lab. We have invested heavily in R&D spanning various areas, including software, hardware, and algorithms innovation,” says Lei Jun, Founder, Chairman, and CEO of Xiaomi Group.

“With AI at its core and a full-size humanoid frame as its vessel, this is an exploration of possibilities of Xiaomi’s future technological ecosystem and a new breakthrough for the company.”

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CyberOne is a humanoid robot measuring 177cm in height and 52kg by weight, with an arm span of 168cm. Compared to a quadruped robot, this humanoid robot is more mechanically complex, requiring more powerful motors, more degrees of freedom, and complex humanoid biped control algorithms. CyberOne supports up to 21 degrees of freedom in motion and achieves a real-time response speed of 0.5ms for each degree of freedom, which allows it to fully simulate human movements.

A robot’s motion performance is dependent on the performance of each joint motor. The technological requirement for building such motors is extremely high as it is necessary to generate more kinetic energy without increasing the size of components. In order to ensure the flexibility of CyberOne’s upper limbs, Xiaomi has developed a high-efficiency motor weighing only 500g with a rated output torque of up to 30Nm for the upper limb joint motor. The hip joint motor is similarly capable of an instantaneous peak torque of up to 300Nm. Thanks to the self-developed humanoid bipedal control algorithm, CyberOne’s walking posture has been programmed to be both natural and stable. On top of that, CyberOne is capable of holding up to 1.5kg in weight with a single hand and programming by demonstration. Altogether, CyberOne is a humanoid robot with well-developed coordination and exceptional motion capabilities.

READ MORE: Xiaomi further improves rank to 266 in Fortune Global 500 list

Humanoid robots rely on vision to process their surroundings. Equipped with a self-developed Mi-Sense depth vision module and combined with an AI interaction algorithm, CyberOne is capable of perceiving 3D space, as well as recognizing individuals, gestures, and expressions, allowing it to not only see but to process its environment. In order to communicate with the world, CyberOne is equipped with a self-developed MiAI environment semantics recognition engine and a MiAI vocal emotion identification engine, enabling it to recognize 85 types of environmental sounds and 45 classifications of human emotion. CyberOne is able to detect happiness, and even comfort the user in times of sadness. All of these features are integrated into CyberOne’s processing units, which are paired with a curved OLED module to display real-time interactive information.

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Keep exploring, and bring robots into people’s lives

Robotics is considered the “crown jewel of manufacturing” with humanoid robots being the ultimate goal for many across the industry. Compared with industrial robots that are valued for their specialized mechanical capabilities, the main challenge in building humanoid robots is to perfectly simulate human processes of perception, cognition, decision-making, and execution under various scenarios. Interestingly, a large number of new technologies that have emerged in the process of trying to solve this challenge have already been serving the general public in positive ways.

The development of CyberOne is a symbol of Xiaomi’s dedication to incubate a technological ecosystem centered in a single point, and connect it with the world in ways never seen before. Spanning from smartphones, wearable devices and smart homes, to smart manufacturing, smart electric vehicle and bionic robots, Xiaomi has been constantly exploring and extending its innovations in various scenarios so as to better connect people and the world, eventually building an ever-evolving Xiaomi Technology Ecosphere.

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Lei Jun notes that humanoid bionic robots require the highest degree of technical integration and present the largest challenge in the field of intelligent robotics. Xiaomi is making its first steps in the field, and CyberOne is constantly adding new capabilities. “We think that intelligent robots will definitely be a part of people’s lives in the future,” said Lei Jun.

CyberOne’s research and development process combined cutting-edge technologies from a variety of sectors, including bionic perception and cognition, biomechatronics, artificial intelligence, big data and cloud computing, and visual navigation. These technological breakthroughs are also expected to give birth to more application scenarios in other fields, such as industrial robots with improved mechanical performance, companion robots with emotion recognition, and public service robots powered by big data and cloud computing. CyberOne’s technology will also be applied to more and more Xiaomi products in the future.

BEIJING: Xiaomi on Thursday August 11, 2022 revealed its advanced foldable flagship smartphone, Xiaomi MIX Fold 2 launched in China.

Xiaomi MIX Fold 2 is a giant technological leap in the ultra-slim foldable smartphone space. Measuring just 5.4mm¹ unfolded, Xiaomi MIX Fold 2 offers a consistent viewing experience on both its inner and outer displays. Additionally, it delivers an authentic Leica imagery experience and outstanding power efficiency with the latest Snapdragon® 8+ Gen 1 mobile platform.

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In addition to Xiaomi MIX Fold 2, Xiaomi also announced Xiaomi Pad 5 Pro, Redmi K50 Ultra, and a host of ecosystem products.

Self-developed Micro Waterdrop Hinge

Xiaomi MIX Fold 2 boasts a revolutionary design. It is one of the thinnest foldable smartphones on the market with a folded body just 11.2mm¹ thin—significantly slimmer than many other foldable devices. Both edges measure just only 5.4mm¹ unfolded, offering a pleasant in-hand feel experience.

To achieve these breakthroughs in form factor, Xiaomi focused on refining the hinge – the core component of the foldable smartphone. Xiaomi MIX Fold 2 is equipped with a self-developed Micro Waterdrop Hinge which features a smaller bending radius, thinner screen modules, customized mini rotating hinge, and utilized an integrated solder-free precision process to create a carbon fiber double-wing floating panel. Together, these highly integrated components reduced the number of parts to only 87, enabling a lighter and thinner hinge design than ever before.

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In addition, both sides of the hinge use space stacking technology, and use large hidden spaces on both sides of the hinge for soft boards, achieving a 20% increase in space utilization and thereby offering the 5.4mm¹ flat design with balanced weight distribution.

Two displays, one exceptional viewing experience

Xiaomi MIX Fold 2 sports an inner folding design, with two AMOLED flagship screens of two different sizes on two respective sides. The outer display adopts a 21:9 classic ratio design, allowing for excellent compatibility with most applications and taking into account user experience when handling. The 6.56″ display features Samsung E5 material, a resolution of 2520×1080, and supports 120Hz high refresh rate and P3 color gamut, with a brightness of up to 1000nit–giving it an edge over other common displays thanks to its outstanding user experience.

READ MORE: Xiaomi further improves rank to 266 in Fortune Global 500 list

On the inside Xiaomi MIX Fold 2 flaunts an 8.02″ Samsung Eco² OLED display. It adopts POL-LESS technology, replaces the traditional polarizer with an ultra-thin color filter, and uses a black matrix material to reduce reflection on the screen. Compared to traditional displays, light transmittance has been increased by 33%, with power consumption reduced by 25%. This screen has a resolution of 2160×1914, supports P3 color gamut and LTPO 2.0 1-120Hz AdaptiveSync Pro. The ultra-low anti-AR film allows the display to reduce reflectivity to less than 2%, resulting in more detailed viewing experience and pleasing aesthetics.

The two displays offer an exceptionally consistent user experience, both supporting 120Hz refresh rate, professional screen calibration on primary colors, 1,000nit brightness and Dolby Vision. Regardless of which screen is used, the device supports dual ambient light sensing on the front and back, providing for natural and smooth automatic brightness adjustment.

MIUI Fold 13, the new standard for foldable displays

Xiaomi MIX Fold 2 runs on the latest MIUI Fold 13 operating system. Developed as a permutation of the classic MIUI interface, it is perfectly adapted to foldable form factor, with screen interaction optimizations offering advancements in user experience.

The smart screen desktop design adapts to the foldable display and doubles the viewing area of the smartphone. As well as maintaining visual consistency, it allows for the hundreds of available MIUI widgets to be used without deformation, increasing both aesthetics and usability.

Xiaomi MIX Fold 2 system applications are customized for its large screen, and a large number of app interfaces have been redesigned for a better on-screen experience. Calendar, file management, voice recorder, notes, and other applications apply a new column design to take full advantage of the large screen. Third-party application adaptation will be conducted according to solutions available in Android 12L, providing more native support capability for third-party apps.

Additional Xiaomi MIX Fold 2 innovations include updates in smart screen interaction. Users can now three finger swipe to split screen. Floating windows can be quickly accessed through the sidebar, which can also be used to exit split screen mode. The design of floating windows and notifications has also been adjusted, and multitasking on a smartphone has never been quite this efficient.

Authentic Leica Imagery, dual-quality approach

Xiaomi has set a new imaging standard for smartphone photography, combining Leica’s imagery expertise with Xiaomi’s rich experience in the field of computational photography.

To ensure optical excellence, Xiaomi MIX Fold 2 is equipped with a 50-megapixel IMX766 main camera, with 7P lenses all using ALD low-reflection coating. Also featured are a 13MP ultra-wide angle camera and a 8MP telephoto camera with 2x optical zoom and portrait capabilities.

In addition to the Leica-certified Summicron lens, Xiaomi MIX Fold 2 offers access to two photographic styles: The “Leica Authentic Look” and “Leica Vibrant Look”, both offering enhanced creative freedom to the photographer.

With the Xiaomi ProFocus support, Xiaomi MIX Fold 2 offers fast camera startup, quick captures, and continuous shooting support up to 30 frames per second.

In regards to video, Xiaomi MIX Fold 2 supports Dolby Vision HDR recording, as well as both Dolby Vision and Dolby Atmos for video viewing. Videos shot on Xiaomi MIX Fold 2 will look amazing, particularly when utilizing UGC platforms which support Dolby Vision, allowing users to share exceptional visuals online.

Snapdragon® 8+ Gen 1 and flagship performance packed in an ultra-slim body

In addition to its revolutionary thin and light foldable screen design, Xiaomi MIX Fold 2 takes advantage of the latest Qualcomm Snapdragon® 8+ Gen 1 mobile platform for snappy performance. TSMC’s 4nm manufacturing process enables a significant increase in energy efficiency while integrating tens of billions of transistors, into an area the size of a fingernail. The advanced process allows both CPU and GPU to receive a 10% boost in performance, while simultaneously improving CPU and GPU energy consumption by 30%. This upgraded design allows the ultra-slim smartphone to maintain higher speeds and efficiency at the same time.

Excellent power efficiency allows for a long lasting battery, with a full day of use being possible even when the inner screen is frequently used, with extended use when using primarily the outer display.

Xiaomi MIX Fold 2 also packs a cooling system equipped with a large-area VC, rarely seen on foldable smartphones. The high-quality VC offers a surface area of up to 2,520mm², enabling 50% improvement in thermal conductivity compared to typical VCs. The inner layer of the battery is covered with second-generation boron nitride heat dissipation film, with an area of up to 3715mm². Finally, multi-layer high-density graphite sheet creates a solid foundation for Xiaomi MIX Fold 2’s excellent sustained performance.

Xiaomi MIX Fold 2 comes in two colors: Black and Gold, with three storage variants.

12GB+256GB – priced at RMB 8,999

12GB+512GB – priced at RMB 9,999

12GB+1TB – priced at RMB 11,699