Huami reports that it made nearly US$835 million in 2019
Huami is a company currently enjoying a surge in success and popularity thanks to its increasingly well-known brand, Amazfit. Now, it has reportedly released 2019 financial results that appear to underpin all this hard work. The ODM/OEM apparently reveals that it shipped a total of 42.3 million units, which brought in a final figure of 5.8 billion yuan (or US$834.9 million) in revenue terms.
The company also noted that a good proportion of this business was done in the last quarter of 2019 (4Q2019): its revenues for this period were 2.1 billion yuan (~$303.3 million), derived from the shipment of 14.7 million units. This was a positive change of 59.8% compared to 2018. However, its actual profits were 213.8 million yuan (~$30.7 million) and 630.3 million yuan (~$90.5 million) for 4Q2019 and 2019 as a whole respectively. This all-year net gain grew by 32.8% YoY.
By all accounts, Huami has also had a good 2020 thus far. Its inaugural CES introduced new smart feature- and fitness-focused wearables, and also unveiled its strategy for an expanded ecosystem of products that incorporate a much greater range of tech in the future. In addition, it has its partnerships with brands such as Xiaomi and Timex to shore its fortunes up with.
On the other hand, the current pandemic-clouded climate may impact Huami's emerging upward trend in terms of its commercial performance. On that note, its Amazfit X, an ex-concept watch with a curving screen, unfortunately has not yet made its long-awaited debut on Indiegogo.