Xiaomi announced that it had achieved a total revenue of RMB72.2 billion (RM44.9 billion) in Q3 2020, with a YoY growth of 34.5%.
The company reported a smartphone revenue of RMB47.6 billion (RM29.6 billion) during that quarter and smartphone shipments totalling 46.6 million units, a YoY increase of 47.5% and 45.3% respectively. It placed third in a global ranking regarding smartphone shipments bearing a market share of 13.5% in Q3 2020 according to Canalys. In China, Xiaomi’s smartphone shipments market share increased to 12.6% from 9.0% in Q3 2019.
Xiaomi also said that it had sold over eight million units of smartphones with retail price points of at least RMB3,000 (RM1,460) globally in the first 10 months of the year. Meanwhile, its overseas revenue saw an increase of 52.1% YoY to RMB39.8 billion (RM24.7 billion), 55.1% of its total revenue.
Outside of smartphones, Xiaomi saw its global Smart TV shipments hit 3.1 million units, while its total IoT and lifestyle product revenue saw a YoY increase of 16.1% to RMB18.1 billion (RM11.2 billion) in Q3 2020. Its IoT and lifestyle revenue overseas increased by 56.2% YoY, and it also said that its AIoT platform had 289.5 million connected devices by September 30, 2020. Its internet services and advertising revenue increased as well.
“The Group maintained its strong growth momentum in the third quarter of 2020 and posted record high quarterly revenue and net profit,” said Xiaomi in a press release. “During the quarter, we achieved sustained growth across various business segments and the Group continues to pursue its core ‘Smartphone x AIoT’ strategy.”
