Xiaomi sales surge 35% in Sept quarter as smartphone revenue booms

Xiaomi reported revenue of 72.2 billion yuan (nearly $1.09 billion) in the September quarter — a 34.5 percent (on-year) growth, with a net profit of 4.1 billion yuan.
Xiaomi campaign with Katrina KaifXiaomi’s smartphone revenue was 47.6 billion yuan — registering growth of 47.5 percent with a global shipment of 46.6 million units.

In Q3 2020, Xiaomi’s revenue from overseas markets increased 52.1 percent to 39.8 billion yuan, accounting for 55.1 percent of total revenue.

In Q3 2020, Xiaomi’s smartphone business grew significantly – both revenue and shipments achieved record high levels — and kept the momentum for growth in both mainland China and in overseas markets.

Canalys said Xiaomi ranked third globally in terms of smartphone shipments with a market share of 13.5 percent in Q3. Xiaomi’s smartphone shipments market share in mainland China increased to 12.6 percent in the third quarter of 2020 from 9 percent in the same period of 2019, maintaining a top four position.

Xiaomi continued its leadership in the mainland China smart TVs market and introduced a number of products within the Mi TV Master Series in Q3 2020, further solidifying its position in the premium market.

Global shipments of Xiaomi’s Smart TVs reached 3.1 million units.

Xiaomi also maintained a leading position in IoT products and broadened its product portfolio and brought innovative technologies to users in the quarter.