Hong Kong, March 24 (TIWN) Xiaomi on Wednesday reported a robust performance driven by its smartphone business last year, with a total revenue of 245.9 billion yuan (nearly $37.7 billion) which is an increase of 19.4 per cent (on-year) and net profit of 13 billion yuan (nearly $2 billion).

In 2020, Xiaomi's smartphone revenue amounted to 152.2 billion (nearly $23.3 billion) for the year, representing an increase of 24.6 per cent.  The group's global smartphone shipments totalled 146.4 million units, an increase of 17.5 per cent year-over-year.  In the fourth quarter of 2020, Xiaomi's revenue amounted to 70.5 billion yuan, representing an increase of 24.8 per cent and an adjusted net profit of 3.2 billion yuan, representing an increase of 36.7 per cent year-over-year, the company said in a statement.