What Has Triggered Xiaomi's New Semiconductor Endeavors

● Xiaomi's revenues were in an upward trend following on from 2017, whereas the smartphone sector and foreign incomes were its main drivers.

● In a high-stakes market, even though Xiaomi has built chips for over seven years, it still struggles to remain competitive. 

● Xiaomi can benefit from China's rising market share in the global semiconductor area, with increasing production capacity.

● Apart from the industry opportunities, the firm has also made every effort to boost investments and R&D.

● However, the local backward technology processes and threats from the US will remain troublesome issues for Xiaomi on its chip-making journey.

Xiaomi released its new chip – Surge C1 – at its Spring Meeting on March 29, 2021, attracting massive public attention. Moreover, the latest phone, Mix Fold, conforms to the firm's increasing presence in the high-end bands, which in this case is only possible thanks to the Surge C1.

Founded on March 3, 2010, Xiaomi specializes at R&D in intelligent hardware and digital products. Differing from other manufacturers, Xiaomi aims to make quality technology accessible to everyone, so its products are in comparatively low price but relatively high quality. By now, Xiaomi has built the largest IoT platform, connecting over 100 million intelligent devices. Xiaomi's share in the global smartphone market has gradually increased from 2018 and peaked at 13% in the third quarter of 2020. 

Read more about Xiaomi Corporation in our newest research report.

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Smartphones as the main income source

After going public in Hong Kong on June 7, 2018, Xiaomi started opening its international markets and selling products overseas. Specifically, foreign income has gradually aligned with domestic income. Since 2018, the foreign income has risen by 74.86% to CNY 122.4 billion in 2020. More importantly, the smartphone sector was consistently the primary revenue stream, accounting for 64.14% on average of the whole revenue in the last three years. As a result, Xiaomi's income has shown an overall upward trend from 2017.

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