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Zepp Health reports takings of nearly US$1 billion in 2021

Amazfit's year could have been worse. (Source: Zepp Health)
Amazfit's year could have been worse. (Source: Zepp Health)
Zepp Health, the owner of the increasingly popular fitness-tracking wearables brand Amazfit, has now released its fourth-quarter (4Q2021) and full-year earnings report for 2021. It claims revenues of nearly 6.3 billion yuan (or about US$985 million) for this year, about 27% of which came from 4Q2021. Despite these impressive figures, however, the company has seen the impact of global events over the last ~12 months.

Zepp Health (formerly known as Huami) is increasingly well-known through the medium of its Amazfit brand, and is also the ODM for certain Xiaomi personal-fitness wearables. In addition, it aims to become known as a top health-tech name worldwide in general. Its takings from 2021 as a whole might help it get there soon.

The company has now revealed that it amassed 6.25 billion yuan, or about US$985 million, in revenue for the past year. Of this, 1.66 bilion yuan (~$261 million) was derived from its 4Q2021 business. That all sounds great so far - until the figures are compared to those of 2020.

Zepp Health notes that its revenues declined 15.8% year-on-year (YoY) for 4Q2021, probably driven by Mi Band shipments taking a nosedive of 47.3% YoY. On the other hand, shipments of their Amazfit and Zepp-brand counterparts went up by 14.3%, and its total revenues for 2021 only shrank by about 1% YoY in the end.

The OEM cited the "headwinds" of the global pandemic and semiconductor supply constraints as major factors in its relatively mild downturn in income.

Looking forward, Zepp Health concedes that the ongoing war in Ukraine may have a similar impact in 2022. The company estimates that combined sales in this country and Russia accounted for 4% of its 2021 revenues.


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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 03 > Zepp Health reports takings of nearly US$1 billion in 2021
Deirdre O'Donnell, 2022-03-17 (Update: 2022-03-17)