Xiaomi has published a financial report for 2023. In addition to information about the tech giant’s revenue, it contains other interesting information. In particular, it turned out that branded smartphones began to gradually increase in price – and, most likely, will continue to do so.
According to Chinese media reports, citing a company report, the average price of Xiaomi smartphones in mainland China in 2023 increased by more than 19%. At the same time, within the country, premium models accounted for 20% of the total supply of branded devices, and in sales of gadgets in the price range from $553 to $830, Xiaomi became the leader with a market share of 28%.
Xiaomi’s net profit grew by 126.3% – this figure in terms of money became the second largest since the company’s inception. According to company president Liu Weibing, Xiaomi will also “steadily promote premium smartphones” this year. Most likely, we are talking about the fact that the price increase for premium Xiaomi smartphones will continue in 2024.
