In the third quarter of 2020, between July 1 and September 30, Xiaomi sold 46.6 million mobile devices, generating 47.6 billion yuan, or approximately 2,192 billion forints, an increase of 34.51T3T compared to the same period last year.
JUST IN: Xiaomi Corporation 2020 Q3 Results!
A record high for a single quarter! Our "Smartphone x AIot" strategy continued to yield outstanding results in 2020 Q3! #InnovationForEveryone #NoMiWithoutYou pic.twitter.com/IPbtMgewXb
- Xiaomi (@Xiaomi) November 24, 2020
A recent report published by Xiaomi revealed this information, among others. The company's total revenue for the period was 72.2 billion yuan, or about 3,325 billion forints, an increase of 34.51T$3.3T. The net profit, or net profit, is 4.1 billion yuan, or about 189 billion forints.
The company highlighted the overseas market, which accounted for 39.8 billion yuan, or about 1,833 billion forints, in revenue. This represents a staggering growth of 52.1%.
Xiaomi, despite its high price, has high hopes for the Mi 10 series, saying it's already a flagship phone without compromise. In the third quarter, 8 million units of premium phones were sold, an increase of 14.7%. To make the picture a little more nuanced, this accounts for a little over 17% of phone sales, based on the figures mentioned above. In any case, this is not Xiaomi's core business.
The MIUI MAU, monthly active users, is also growing nicely, from 292 million this time last year to 368 million this time today, an increase of 26.3%.
Let's look at the rest of the numbers: 289 million active Xiaomi IoT devices (all internet-connected Xiaomi devices that are not phones and laptops, typically smart home stuff) are running around the world, an increase of 35.8%. There are 5.6 million homes with 5 or more IoT devices, an increase of 59%. Xiaomi AI Assistant has 78.4 million monthly active users, an increase of 35.5%. This is not used by so many in Europe for the simple reason that it is only available in Chinese for now. The Mi Home app has 43.1 million users, an increase of 34.2%.
Let's move on to TVs. In this period, 3.1 million Xiaomi TVs were sold, which still makes them the number one in the Chinese smart TV market. The number of monthly active Mi Box users was 35.8 million, an increase of 49.9%.
Thank you to all our Mi Fans and partners around the world! #NoMiWithoutYou https://t.co/meimzgsw40
- Xiaomi (@Xiaomi) November 24, 2020
A separate Western Europe report has also been produced. Compared to the same period last year, 90.7% more smartphones were sold in Europe and 107.3% more in Spain, one of the largest European markets, where more than a third of smartphones, 33.9%, were Xiaomi.
Well, enough with the numbers. As the graph in the Twitter post shows, the first wave of the crown virus hit Xiaomi hard, but then they came back with renewed vigour to even higher levels.
Founded just 10 and a half years ago, Xiaomi is now the 4th largest smartphone manufacturer in China, 3rd in the world and Europe and the first in India. It's amazing how far the company, which started in 2010, has come.
