Xiaomi’s latest financial report marks the milestone of 46.6 million smartphone shipments and 47.6 billion yuan ($ 7.2 billion) smartphone revenue between July 1st and September 30th. The number of phones shipped was 45.3% higher than in the same period last year, and Xiaomi is currently the world’s third-largest smartphone brand with a market share of 13.5%, based on Canalys’ global smartphone shipment report.
Xiaomi Q3 performance
Total revenue increased to 72.2 billion yuan ($ 10.9 billion), an increase of 34.5% compared to the same period last year. Net profit reached 4.1 billion yuan ($ 621 million). The average selling price (ASP) of Xiaomi phones rose to RMB1,022 ($ 155) per unit due to the sale of flagship Mi phones in the third quarter of 2020.
Revenues from outside China also increased to 39.8 billion yuan ($ 6.03 billion), an increase of 52.1% compared to last year. AIoT revenue increased 16.1% from the third quarter of 2019 to 18.1 billion yuan ($ 2.7 billion).