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Xiaomi’s Q3 revenue jumps 25.4%, smartphone income stays ‘steady’

After briefly surpassing Samsung because the world’s largest smartphone vendor, Xiaomi has now slipped to the third spot.

What it is advisable to know

  • Xiaomi has introduced its monetary outcomes for Q3 2021.
  • The firm posted RMB 78.1 billion in whole income in the course of the quarter, up 8.2% over the identical interval final yr.
  • Xiaomi held 13.5% of the worldwide smartphone market within the July to September interval.

Chinese tech big Xiaomi has announced its consolidated monetary outcomes for the third quarter of 2021. While the corporate did not carry out in addition to it did final quarter, it did report regular progress in each income and revenue.

In Q3 2021, Xiaomi’s whole income got here in at 78.1 billion yuan (about $12.2 billion), a rise of 8.2% over the identical interval a yr earlier. Adjusted internet revenue for the quarter was 5.2 billion yuan (about $814 million), up 25.4% from Q3 2020. Xiaomi says its internet revenue in the course of the July to September interval was impacted by unrealized monetary losses generated by the worldwide macro-environment, market sentiment in direction of the tech sector in China, and long-term investments.

Xiaomi’s web service income reached a brand new quarterly excessive in Q3 2021, reaching 7.3 billion yuan (about $1.1 billion). The firm’s international web person base additionally continued to develop steadily, and international MIUI 30-day lively customers surpassed 500 million for the primary time on November 22. In September, MIUI month-to-month lively customers elevated 32% YoY to 485.9 million.

The firm’s smartphone shipments, nonetheless, noticed a decline in comparison with the earlier quarter. According to knowledge from Canalys, Xiaomi shipped 43.9 million telephones within the third quarter, rating No.3 globally with a market share of 13.5%.

Xiaomi’s IoT and way of life merchandise division noticed income rise 15.5% YoY to twenty.9 billion yuan (about $32.7 billion), with the group’s abroad IoT and way of life merchandise income reaching a brand new file excessive. The firm shipped a complete of three million good TVs globally, rating No.1 in mainland China for the eleventh consecutive quarter. It was additionally among the many high 5 good TV makers globally in Q3 2021. The numbers do not come as a shock, since Xiaomi makes a few of the finest value-focused Android TVs in the marketplace.

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