Zepp Health reports strong financial results
Huang Wang, founder and CEO of Zepp Health, introduces the company's latest smartwatches in Beijing in 2021. [Provided to China Daily]
Zepp Health Corp, a United States-listed maker of smart wearables, recently presented its financial report for the fourth quarter and the entire year of 2021.
According to the financial report, in 2021, Zepp Health's own brands Amazfit and Zepp showed strong performance. The shipments of Amazfit and Zepp products increased by 59.6 percent and the revenue grew by 45.8 percent, and the growth rate of shipments to North America exceeded 200 percent.
The company's revenue in the fourth quarter totaled 1.66 billion yuan ($260.7 million), with annual revenue reaching 6.25 billion yuan. Its self-owned brand products accounted for 46.5 percent of revenue and over half of gross profit.
As of Dec 31, 2021, the total shipments of Zepp Health's smart devices have exceeded 200 million units.
According to market research company International Data Corp, Zepp Health scored among the top three smartwatch providers by shipments in markets such as Brazil, Turkey, Italy, Indonesia, Spain, and Russia in the fourth quarter of 2021, and among the top five globally by annual cumulative shipments.
The Chinese company, which changed its name from Huami Corp into Zepp Health Corp earlier in 2021, garnered more than 24 million users in over 90 countries and regions such as the United Kingdom, Spain, Germany, the US and India.