Xiaomi in Q3 2020; smartphone shipments in Europe grew 90.7%

In the third quarter of 2020, Xiaomi’s total revenue totaled RMB72.2 billion, representing an increase of 34.5% year-over-year; the adjusted net profit for the period was RMB4.1 billion, representing an increase of 18.9% year-over-year. Its revenue from overseas markets amounted to a record high of RMB39.8 billion in the third quarter of 2020, representing a […]

Xiaomi in Q3 2020; smartphone shipments in Europe grew 90.7%

In the third quarter of 2020, Xiaomi’s total revenue totaled RMB72.2 billion, representing an increase of 34.5% year-over-year; the adjusted net profit for the period was RMB4.1 billion, representing an increase of 18.9% year-over-year.

Its revenue from overseas markets amounted to a record high of RMB39.8 billion in the third quarter of 2020, representing a year-over-year increase of 52.1%.

In Q3 2020, its commitment to the core strategy of “Smartphone × AIoT” continued to underpin its robust performance.

Its global smartphone shipments increased by 45.3% year-over-year to 46.6 million units in the third quarter of 2020. Xiaomi achieved the highest year-over-year smartphone shipments growth rate among the top five smartphone companies globally, according to Canalys.

its global smartphone shipments rose to the 3rd position in Q3 2020, with an all-time high market share of 13.5%, according to Canalys.

Xiaomi smartphone shipments in Europe grew 90.7% year-over-year, achieving an 18.7% market share. Xiaomi maintained the top 3 position in terms of smartphone shipments for the 2nd consecutive quarter in Europe and reached the top 3 position in the Western European market for the first time.

In the third quarter of 2020, Xiaomi realized strong growth in mainland China and recorded an 18.9% increase in smartphone shipments year-over-year, becoming the only one of the top five smartphone companies to achieve positive growth in this market, according to Canalys.

Xiaomi smartphone market share in terms of online shipments increased from 18.5% in the first quarter of 2020 to 25.7% in the third quarter of 2020. During the Singles’ Day shopping festival in 2020, it ranked 1st in sales volume among Android smartphones on Tmall.com, JD.com, and Suning.com.

In September 2020, the global monthly active users (“MAU”) of MIUI OS reached 368.2 million, an increase of 26.3% year-over-year.

As of September 30, 2020, the number of connected IoT devices (excluding smartphones and laptops) on its AIoT platform reached 289.5 million, representing an increase of 35.8% year-over-year.

Its AI assistant Xiao Ai had 78.4 million MAU in September 2020, representing a year-over-year increase of 35.5%. its overseas business continued to demonstrate robust growth momentum. According to Canalys,

In September 2020, MAU of Xiaomi smart TVs and Mi Box reached 35.8 million, representing an increase of 49.9% year-over-year. As of September 30, 2020, the number of TV paid subscribers increased by 28.2% year-over-year to 4.2 million.

It rebranded its fintech business as “Airstar Digital Technology”. It focuses on three main areas: Supply Chain Finance, Retail Finance, and Financial Technology.

China smartphone shipment and market share

Source : China Internet Watch More