Xiaomi’s latest financial report indicates a milestone with 46.6 million smartphone shipments and CNY 47.6 billion ($7.2 billion) in smartphone revenues during the July 1-September 30 period. The number of shipped phones is 45.3% greater than the same period of last year and based on Canalys’ global smartphone shipments report, Xiaomi is now the third biggest smartphone brand globally with a 13.5% market share.
Total revenues grew to CNY 72.2 billion ($10.9 billion) which is up by 34.5% compared to the same period last year. Net profits came up to CNY 4.1 billion ($621 million). The average selling price (ASP) of Xiaomi phones increased to CNY 1,022 ($155) per unit driven by sales of flagship Mi phones in Q3 2020.
Revenues from outside China also grew to CNY 39.8 billion ($6.03 billion) which is up by 52.1% compared to last year. AIoT revenues climbed to CNY 18.1 billion ($2.7 billion) up by 16.1% from Q3 2019.