Xiaomi's mobile phone business falls down, will the new hope of Cheng Lei Jun be built?

Radar finance produced | Meng Shuai editor | Shenhai

Recently, the chairman and CEO Lei Jun of Xiaomi held his third annual speech on the theme of "crossing the trough of life". However, Xiaomi is also experiencing his trough.

The financial report shows that Xiaomi recorded 70.171 billion yuan in the second quarter, a year -on -year decrease of 20.1%; in terms of profit, Xiaomi's adjustment of net profit in the second quarter was 2.081 billion yuan, a year -on -year decrease of 67.1%. The reason is that behind this quarterly, Xiaomi's smartphone business has been dragged down in poorly. In the second quarter, Xiaomi's smartphone business revenue was 42.268 billion yuan, a year -on -year shrinkage of more than 16.8 billion yuan.

While encountering a bottleneck in the mobile phone business, the car manufacturing business is regarded by the outside world as the solution of Xiaomi. 500 days before Xiaomi officials declared a car, Xiaomi further revealed the information about its car construction business. It is reported that Xiaomi has invested 3.3 billion yuan in research and development in the first phase of the autonomous driving field. There are more than 500 R & D teams established by Xiaomi in the field of autonomous driving. Compared with the 1,000 R & D team announced in March, the scale has narrowed.

The mobile phone business falls down

On August 19, Xiaomi released the financial report of the second quarter and the first half of the year as of June 30 this year. The financial report shows that in the first half of the year, Xiaomi achieved a revenue of 143.522 billion yuan, a year -on -year decrease of 12.8%; the adjustment of net profit was 4.940 billion yuan, a decrease of 60.1%year -on -year.

In fact, Xiaomi's performance has appeared in the first quarter. In the first quarter, Xiaomi realized a revenue of 7.3352 billion yuan, a decrease of 4.6%year -on -year. This is the first time that Xiaomi's revenue has declined year -on -year since its listing. At the same time, Xiaomi's profit myth was also broken. In the first quarter, Xiaomi's loss was 531 million yuan during the first quarter, and the profit was 7.789 billion yuan in the same period last year.

In the second quarter, although Xiaomi re -achieved a profit, its revenue still showed a downward trend regardless of the month -on -month and year -on -year perspective. According to the financial report, in the second quarter of this year, Xiaomi recorded a revenue of 70.171 billion yuan. In the same period of the previous year, the revenue was 87.79 billion yuan, a year -on -year decrease of about 20 %; in terms of profit, the net profit of Xiaomi in the second quarter was 2.081 billion yuan, which was year -on -year, year -on -year The decline was more serious, and the decline reached 67.1%.

To further split the sources of Xiaomi's revenue, the sluggishness of the smartphone business became the "culprit" of Xiaomi's second quarter revenue. The financial report shows that the revenue of Xiaomi's smartphone business in the second quarter was 42.268 billion yuan. In the same period of last year, Xiaomi revenue from the business of 59.089 billion yuan, a year -on -year shrinkage of more than 16.8 billion yuan. At the same time, the proportion of the total income of the business also dropped from 67.3%in the second quarter of the previous year to 60.2%in the second quarter of this year.

In this regard, Xiaomi explained that the reduction of the income of smartphone business sections was mainly due to the reduction of smartphone shipments. In the second quarter, the shipments of Xiaomi smartphones fell from 52.9 million in the second quarter of the previous year to 39.1 million units in the same period this year, a year -on -year decrease of 26.2%. The reasons for Xiaomi's enhanced promotional efforts during the 618 E -commerce Shopping Festival in half a year have led to the decrease in the ASP (average price) and gross profit margin of the second quarter of smartphones.

Why can't Xiaomi mobile phone sell? There are two answers given by Xiaomi, one is the impact of the epidemic, and the other is the impact of the global macroeconomic environment. In fact, the weakness of the mobile phone business is indeed not a problem facing a mobile phone manufacturer. According to Canalys data, the number of smartphones in the global and mainland China in the second quarter declined year -on -year, with a decrease of 8.9%and 10.1%, respectively, and decreased by 7.7%and 10.9%respectively.

At the same time as the smartphone business is not very powerful, Xiaomi's second and third businesses have not brought too much dazzling performance to the outside world. According to the financial report, Xiaomi's income of IoT and living consumer products and Internet services in the second quarter was 19.812 billion yuan and 6.971 billion yuan, respectively, a decrease of 4.5%and 0.9%compared with the same period last year, respectively.

It is worth mentioning that the income of Xiaomi in the second quarter increased year -on -year, from 932 million yuan in the previous year increased by 20.0%to 1.12 billion yuan. The reason behind this was because Xiaomi sold some office buildings.

Officially announced the car for 500 days, how did it progress?

As the current mobile phone business is in a bottleneck, looking for new business growth points has become a problem that Xiaomi needs to consider.

At the new product launch conference held in March last year, the mysterious veil of Xiaomi car that had been passed for a long time was finally opened. At that time, Xiaomi announced that it would set up a wholly -owned subsidiary, which invested 10 billion yuan in the first phase, and invested 10 billion U.S. dollars in the next ten years to build a car. This new task will be led by Lei Jun himself.

Now that it has passed about 500 days since Xiaomi Guan Xuancai, what is the progress of Xiaomi car building? Radar Finance noticed that Xiaomi mentioned the progress of the car construction business in the financial report, but there were not many ink.

There are few contents related to car building in the financial report. In the second quarter, Xiaomi's cost of innovative business, including smart electric vehicles, was 611 million yuan. 3.3 billion yuan. At present, Xiaomi has more than 500 R & D teams established in the field of autonomous driving, and has formulated a technical layout strategy for the full -scale self -research algorithm. According to Xiaomi insiders revealed to the media, among the 500 teams of Xiaomi cars, 50 experts formed the backbone team, and Boshuo accounts for more than 70%, covering sensors, chips, perception control algorithms, simulation technology, high essence, high precision Maps, high standard positioning, tool chain, training capacity and other talents needed by autonomous driving technology. Some members have the R & D background of Microsoft and Google.

However, the radar Finance noticed that Xiaomi Group announced in March this year that since the announcement of the car construction plan, the size of the Xiaomi automobile business at that time exceeded 1,000, and it is expected to achieve mass production in the first half of 2024. Compared with the data disclosed by Xiaomi at the time, the number of Xiaomi car building teams has reduced the size.

On August 11, Xiaomi's annual speech scene, Lei Jun revealed more about the latest news about Xiaomi car building. At present, Xiaomi's autonomous driving has entered the test stage. The first phase of the 140 test vehicles will be planned, which will be tested across the country. It is reported that Xiaomi will promote the medium- and long -term industrial layouts in the field of autonomous driving through the methods of wholly -owned mergers and acquisitions and industrial investment in upstream and downstream enterprises, and Xiaomi has also set up autonomous driving in 2024 to rush to the industry's first echelon in 2024 to the first echelon of the industry. Aspiration.

As a seed player of cross -border car manufacturers, Xiaomi car has attracted much attention from the market before the official announcement. Therefore, there are endless news about the true and false and false of Xiaomi cars on the Internet. However, Lei Jun said that Xiaomi has made very strong confidentiality measures on the car construction business. In the next two years, there will be no news about various information about Xiaomi cars, and it will no longer introduce any of the latest progress about Xiaomi cars. At that time, the information of the car business will be announced regularly at the right time.

Recently, some media reports that Xiaomi Motors has finalized the suppliers of the two main batteries and will adopt a scheme of Kirin and BYD blade batteries in Ningde Times. In this regard, BYD stated that it would not comment. There was no public information to disclose, and the relevant information could consult Xiaomi.

Lei Jun's life trough

Looking back at this annual speech on August 11, the "trough" became the keywords mentioned by Lei Jun. In the speech, Lei Jun mentioned that he had experienced many troughs before. Faced with setbacks and failures, Lei Jun laughed and said that he had been confused, shaken, or even gave up, but without these setbacks and the accumulation of these setbacks, there would be no self today.

Pangu, founded by Lei Jun in the early years, was highly hoped for him, but the sales volume of Pangu was very bleak after listing. As a result, the team was hit hard, and the members' mood also fell from the cloud to the bottom of the valley. Even though he continued to encourage team members, Pangu did not improve, and the bleak of WPS sales caused the income to decrease directly. At that time, Lei Jun, the general manager of Beijing Jinshan, was worried about paying wages for employees. After that, Lei Jun even ended up the store in person. The experience of the station store made Lei Jun gradually understand that what the product needs to do is the product that the user wants, not the product that looks tall. After no longer closed the door, Jinshan slowly found the way to survive.

During the trough, Lei Jun admitted that he had soaked in a bar, and once had the idea of ​​opening a bar in Sanlitun. In addition, Lei Jun also used to visit the forum to help him dispatches boredom and seek soul sustenance. It is worth mentioning that the experience of playing BBS not only made Lei Jun become a moderator, but also made him know a lot of friends who are very successful today, such as Tencent's founder Ma Huateng and Netease founder Ding Lei.

According to Lei Jun, Netease, he and Ding Lei, had a past that could not be held in hand. When Netease was established for more than a year, Lei Jun wanted to acquire at a price of $ 10 million, but was rejected by Ding Lei.

Lei Jun who acquired Netease's failed to make it decided to start the Internet business, so he created an excellent network with e -commerce as the main business. However, because the e -commerce platform burned money, in the end Amazon, therefore missed the era of Internet e -commerce rising.

As the leader who is still active on the front line of the enterprise, Lei Jun has his own topics and traffic. This annual speech once again made Lei Jun a hot discussion among the media and netizens. On the day of the annual speech, the Internet celebrity economist Ren Zeping "splashed cold water" to Lei Jun and Xiaomi.

Ren Zeping said he didn't want to myth Lei Jun, "I personally feel that there is still a lot of gaps against Lei Jun against Jobs and Musk." "I hope that Chinese entrepreneurs can produce several revolutionary science and technology heroes of Jobs and Musk. Lei Jun was full of expectations, but did not want public opinion to kill prematurely.

Ren Zeping also pointed out that Lei Jun and Xiaomi have worries. He mentioned that the speed of burning money of new energy vehicles may be far exceeding other industries. Ninety percent of new forces of new forces of new forces died of the new forces. The positive cash flow, but the revolutionary innovation of the global mobile phone industry has come to an end, and after entering the decline in sales, whether Xiaomi can continue to support its vehicle construction by the mobile phone business is full of unknown.

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