Xiaomi increases its figures quarter after quarter

Xiaomi today has come out to show the financial results of the last third quarter of this year 2020.

Xiaomi has grown significantly, with revenues and shipments reaching record levels. In the quarter, mobile phone revenue reached RMB 47.6 billion, an increase of 47.5% year-on-year. Smartphone shipments were 46.6 million units, a year-on-year increase of 45.3%.

According to Canalys statistics, in the third quarter of 2020, Xiaomi's global smartphone shipments ranked third in the world, with a market share of 13.5%.

In Q3 2020, the ASP (Average Selling Price) of Xiaomi smartphones was RMB 1,022.3 per unit (€ 130), compared to RMB 1,006.5 (€ 128) per unit in Q3 of 2019.

Xiaomi stated that the increase in ASP was mainly due to the increase in sales of mid-range to high-end smartphones in the third quarter of 2020.

ASP in mainland China increased 14.7% year-on-year, while ASP in the foreign market fell slightly 1.5% due to the pace of product launches. Among them, the basic models of the Redmi 9 series are very popular outside of China.

In the third quarter of 2020, the total revenue of the Xiaomi Group reached RMB 72.2 billion, a year-on-year increase of 34.5%. Adjusted net profit reached RMB 4.1 billion, an increase of 18.9% year-on-year.

Xiaomi's international revenue reached a record in a single quarter, with a year-on-year increase of 52.1%, reaching RMB 39.8 billion. Xiaomi's AIoT and consumer products segment revenue reached RMB 18.1 billion, an increase of 16.1% year-on-year.

These data on average spending per user clearly show that the low-end Redmi series is the one that saves the company's furniture, being the one that is positioned in the list of world top sales.

Xiaomi's Consumer Products and IoT segment revenue increased 16.1%, from RMB 15.6 billion in the third quarter of 2019 to RMB 18.1 billion in the third quarter of 2020. This growth is due to growth in the demand for IoT categories such as cleaning robots, televisions and electric scooters. Television and laptop sales revenue increased 2.6% from RMB 5.8 billion in the third quarter of 2019 to RMB 5.9 billion in the third quarter of 2020.

The Xiaomi Mi TV shipped were 3.1 million units in the third quarter, ranking first in shipments to mainland China for 7 consecutive quarters

According to reports, in the third quarter of 2020, Xiaomi's TV business will continue to maintain its leadership position, with global shipments reaching 3.1 million units. According to statistics from Aoweiyun.com, in the third quarter of 2020, Xiaomi's TV shipments in mainland China ranked first for the seventh consecutive quarter, and global TV shipments continued in the top five.

Xiaomi's President Wang Xiang, Vice President and CFO Lin Zhiwei, Vice President of Finance Wang Yonghua and other executives held a conference call on financial reports to interpret the key points of the financial report and answer questions from journalists.

At this conference, senior officials mention that Xiaomi continues with iron growth and emphasize the ability to continue growing much more in Europe, where in Spain they are sales leaders, but in countries close to ours they are still far from being leaders.

You can read the entire interview translated at this link.

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