Xiaomi’s Financial Report Signifies 46.6M Smartphone Shipments in Q3

Xiaomi’s financial report specifies a milestone with 46.6 million cellphone shipments and CNY (Chinese Yuan Renminbi) 47.6billion that is $7.2 billion in phone revenues from July 1 to September 30 time.

Moreover, the total number of shipped smartphone is 45.3% greater as compared to the same period of last year. This survey is based on Canaly’s global smartphone shipments report. Now, Xiaomi is the third-largest smartphone brand globally, having a 13.5% market share.

Xiaomi’s Financial Report Signifies 46.6M Smartphone Shipments in Q3

At that time, Lei Jun claimed regarding Xiaomi’s evolution, saying that “it has already entered the Fortune 500 list. In fact, Xiaomi has made a series of impressive achievements in an extremely fierce competitive environment. ‘I am sincerely proud of this. In the future, we will continue to adhere to the ‘three iron laws’ that Xiaomi never changes, namely: technology-oriented, cost-effectiveness-oriented, and making the coolest products.”

Xiaomi’s general Performance in Quarter 3 (July, August and September)

Besides this, the total profit grew to Chinese Yuan Renminbi 72.2 billion that is $10.9 billion, which is up by 34.5% as compared to the same time last year. The total net profit came up to CNY 4.1B, that is $621 million.

Furthermore, the average selling price of Xiaomi smartphones has increased to Chinese Yuan Renminbi 1,022, that is $155 per unit driven by sales of flagship Mi. smartphones in Quarter three 2020. Xiaomi said that “the increase in ASP was mainly due to the increase in sales of high-end smartphones in the third quarter of 2020.”

From outside China, profits also grew to Chinese Yuan Renminbi 39.8 billion that is $6.03 billion, which is up by 52.1% as compared to last year same period. Although, AloT revenues grew to Chinese Yuan Renminbi 18.1 billion that is $2.7 billion up by 16.1% from the Quarter 3, 2019.

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