Xiaomi yesterday released its third-quarter quarterly financials, reporting that it generated record revenues and profits and that smartphone shipments reached 46.6 million units, an increase of 45.3% over the year.
Xiaomi later added that its strategy to enter the premium segment was great; from January to October this year, global sales of smartphones worth over 3,000 yuan ($450) exceeded 8 million units. For comparison: Apple sold only 38 million iPhone 11 smartphones in six months.
Xiaomi launched the Xiaomi Mi 10 and Mi 10 Pro smartphones in February this year, priced at 3999 and 4999 yuan ($610 and $760), respectively. The Mi 10 Ultra was available in August for 5,299 Yuan ($805).
At the end of the third quarter, Xiaomi was able to displace Apple from the third place in the ranking of the most successful smartphone manufacturers worldwide. According to Canalys, Xiaomi’s share of the global market in the third quarter increased to 13.5%; while in China the company is fourth with a score of 12.6%.
The shipments of smartphones in Western Europe increased by 107.3% over the same period last year, while Xiaomi’s share increased to 13.3% (third place). The market share in Central and Eastern Europe increased to 26.9%, taking Xiaomi into second place.
Gizchina News of the week
- Xiaomi Group’s total revenue reached RMB 72.2 billion ($10.95 billion), a year-on-year increase of 34.5%; adjusted net profit reached RMB 4.1 billion ($0.62 billion), a year-on-year increase of 18.9%.
- Xiaomi Group’s smartphone revenue in the third quarter reached RMB 47.6 billion ($7.22 billion), a year-on-year increase of 47.5%.
- Xiaomi’s overseas market revenue hit a record high in a single quarter; up 52.1% year-on-year, reaching RMB 39.8 billion ($6.04 billion).
- The revenue of Xiaomi’s AIoT and consumer products segment reached RMB 18.1 billion ($2.75 billion), a year-on-year increase of 16.1%.
Samsung, Huawei and Xiaomi topped the smartphone market in Q3 2020
Analytical agency Gartner has published another report on the smartphone market. As it turned out, in the third quarter of this year, 366 million smartphones were sold worldwide; which is 5.7% less than in the same period last year. And although the drop is noticeable, it is less than 20%, which the market fell by in the first half of the year.
Samsung is still the leader with 80.82 million units sold and 22% of the market. In general, of the Top 5 manufacturers, only Samsung and Xiaomi were able to increase sales – by 2.2% and 34.9%, respectively. Huawei is in second place with 51.83 million smartphones sold – its market share is 14.4%. Xiaomi sold 44.41 million smartphones – equivalent to a market share of 12.1%.
Also, Apple is in fourth place. Between July and September, the company’s sales were 40.6 million smartphones – its market share was 11.1%. Interestingly, Oppo is not far from Apple: in the third quarter, it sold 29.89 million smartphones (the market share of this company is 8.2%).
