XGIMI Expands International Business And Grows By Over 40% In 2021
By PR Newswire - 2022-04
XGIMI Publishes Its Financial Report For 2021 With Exceptional Results
SUNNYVALE, Calif., April 28, 2022 /PRNewswire/ -- Leading smart projector brand XGIMI today announced its financial results for 2021. The company's revenue grew by 42.78% last year, following the launch of a series of smart projectors. XGIMI's projectors provide an easy setup, premium Harman Kardon sound, and high-quality resolution, helping the company's revenue grow from RMB 2.828 billion to RMB 4.038 billion in 2021. XGIMI focused particularly on R&D, the expenditure for which increased by 89.03% year-over-year. Consequently, this enhanced the company's AI-powered Intelligent Screen Adaption technology, light source performance, software usability, and increased smart features.
Global operating conditions
Last year, XGIMI's products expanded into new markets, including Europe, the United States, and Japan. In the same year, XGIMI's overseas revenue increased by 145.22% year-on-year, while the YoY growth of the global projector market only reached 8.6%. XGIMI's projectors have a competitive advantage in the global market thanks to the All-in-One product concept, offering a simplified setup, phenomenal resolution, cinematic audio, and built-in Android TV entertainment, making it easy for users to create their own home cinema anytime, anywhere. Aside from offering its smart projectors via global e-commerce channels like Amazon and its own official website, XGIMI reached deals to provide its products in the top Consumer Electronics chain stores worldwide, affirming its omnichannel strategy to better serve consumers.
Global shipments exceeded one million for the first time in 2021
XGIMI's global shipments exceeded one million units for the first time in 2021, allowing the company to expand its user base to better understand consumer needs and further develop its technology to increase product usability and optical performance. Moving forward, XGIMI will continue to increase R&D investments and optimize the viewing experience for users worldwide.
New products HORIZON, HORIZON Pro, Halo+, Elfin, and AURA launched globally
XGIMI launched several new products in the global market in 2021 – HORIZON, HORIZON Pro, Halo+, Elfin, and AURA – providing easy-to-use projectors to those desiring a premier entertainment experience at home and outdoors. The rising consumer demand for smart home projectors, coupled with XGIMI's global expansion, has helped the brand earn several awards, including the CES 2021 Innovation Award and the European EISA Award: EISA BEST BUY PROJECTOR 2021-2022.
XGIMI expanded industry leadership in the Chinese market
XGIMI took the double top spot in China's projector market in terms of shipments and sales according to the IDC 2021 Q4 China Projector Market Tracker Report. The company's shipment market share increased to 21.2%, a new high since topping the Chinese projector market in 2018, consolidating the company's leading position in the home projector market.
Since 2013, XGIMI has created lasting memories for millions worldwide with smart projectors and laser TVs. In collaboration with renowned partners such as Google, Harman Kardon, and Texas Instruments, the brand develops exceptional all-in-one entertainment devices that focus on ease of use. Through innovation, simple setup, and aesthetically-pleasing designs, XGIMI strives to continuously create outstanding home and portable projectors for everyone to enjoy. Its user-centric approach has helped it win 43 international awards, including the EISA Best Buy Projector Award, the CES Best Innovation Award, VGP Awards, iF Design Awards, the Red Dot, and the Good Design Award. However, XGIMI isn't done yet. The company continues innovating and optimizing the user experience, striving to become the global market leader and the world's No. 1 projection technology company.
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