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Xiaomi reported revenue of 72.2 billion yuan in the third quarter and net profit of 4.1 billion yuan
Recently, Xiaomi released its financial report for the third quarter and the first three quarters as of September 30, 2020. According to the financial report, in the third quarter of 2020, Xiaomi’s revenue was 72.2 billion yuan, a year-on-year increase of 34.5% and a month-on-month increase of 34.8%. The adjusted net profit was 4.1 billion yuan, a year-on-year increase of 18.9% and a month-on-month increase of 22.4%.
In the third quarter, Xiaomi continued to promote its core strategy of “Mobile Phone × AIoT”, with global smartphone shipments of 46.6 million, a year-on-year increase of 45.3%. According to Canalys statistics, Xiaomi’s smartphone shipments have the highest year-on-year growth rate among the world’s five major manufacturers, rising to third place, with a record high market share of 13.5%.
In September 2020, global MIUI monthly active users reached 368 million, a year-on-year increase of 26.3%, and the artificial intelligence assistant “Xiao Ai” reached 78.4 million monthly active users, a year-on-year increase of 35.5%. As of September 30, the number of connected IoT devices (excluding smartphones and laptops) on the Xiaomi AIoT platform reached 290 million units, a year-on-year increase of 35.8%.
In this quarter, Xiaomi’s smartphone shipments in the Chinese market increased by 18.9% year-on-year, making it the only company among the top five manufacturers that achieved positive growth. Xiaomi’s overseas market revenue hit a new quarterly high, a year-on-year increase of 52.1%, reaching 39.8 billion yuan. Among them, Xiaomi’s smartphone shipments in the European market increased by 90.7% year-on-year, and its market share reached 18.7%. It entered the top three market share for the second consecutive quarter and also ranked among the top three market share in Western Europe for the first time. According to Canalys data, Xiaomi maintained its No. 1 position in the Indian market in the third quarter, with a market share of 26.1%.
The financial report shows that Xiaomi continues to promote its dual-brand strategy for mobile phones and launches new products covering different price points to break through the high-end market. In the first ten months of 2020, Xiaomi’s global sales of smartphones priced at more than 3,000 yuan in the Chinese market and more than 300 euros abroad have sold more than 8 million units.
In the first three quarters of 2020, Xiaomi’s revenue was 175.4 billion yuan, a year-on-year increase of 17.4%, and its adjusted net profit was 9.8 billion yuan, a year-on-year increase of 6.7%.
It is worth noting that following the previous exposure to a large-scale increase in orders for parts and components to Taiwan, today there is news that Xiaomi has increased production as “Huawei is down” and has begun lobbying Huawei dealers to turn their backs and “don’t hang on a tree.” , And promised to give money to people to reduce the cost of dealers opening stores.
Editor-in-chief’s comment: Xiaomi has ushered in a bright moment, and has firmed up its determination to die high-end. The trap of “wolf-like” Huawei has opened a hole in the high-end mobile phone market. Domestic mobile phone manufacturers such as Xiaomi are taking advantage of the situation to pursue them. The global smartphone market is quietly changing. In order to seize the short and precious window period, Xiaomi’s impact on the high-end market is very radical. Whether in production, channels or marketing, there is a wolfishness…
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