Xiaomi’s Revenue Grows 34 Percent

Xiaomi’s performance thanks to the strategy of linking smartphones and smart devices

REPUBLIKA.CO.ID, JAKARTA – Technology company Xiaomi Corporation posted an increase in revenue and profit in the third quarter (Q3) 2020. This increase in profit was due to the linking strategy smartphone and smart devices ie Smartphone x AIoT.

Based on the performance of Xiaomi’s financial statements in Q3 2020, total revenue was recorded at 72.2 billion renminbi (Chinese yuan) or the equivalent of Rp. 155.9 billion. The conclusion is from the collection of unaudited consolidated results for the three months ended 30 September 2020. This performance grew by 34.5 percent year-on-year (YoY).

Adjusted net profit was recorded at 4.1 billion renminbi or equivalent to Rp 8.79 billion, growing 18.9% YoY.

Xiaomi’s revenue from the division smartphone, recorded at 47.6 billion renminbi or equivalent to Rp 102.1 billion, growing 47.5% YoY. Shipping smartphone reached 46.6 million units, grew 45.3% YoY.

Meanwhile, Xiaomi’s revenue from IoT and lifestyle products was recorded at 18.1 billion renminbi in Q3 2020, equivalent to a growth of 16.1% YoY. This achievement, according to Xiaomi, was achieved by leveraging a large user base and new retail channel capabilities supported by the Smartphone x AIoT strategy.

IoT income and lifestyle in markets outside of China made history as they contributed 56.2 percent of the overall figure.

In the Chinese market, Xiaomi continues the leadership when it comes to smart TVs. Xiaomi introduced a number of flagship products such as the Mi TV Master series in Q3 2020, to strengthen its position in the premium market.

According to a report from All View Cloud (AVC), Xiaomi ranks first in China in terms of TV shipments in a one-quarter period for the seventh time. In the global market, Xiaomi is in the top five.

During this period, Xiaomi also maintained the leadership in terms of IoT products. Xiaomi also continues to expand its product portfolio to bring innovation to users.

According to the IDC report, Xiaomi ranked in the top three in shipments in the previous quarter in China, including smart door locks, air purifiers, cleaning robots, TWS and fitness bracelets.

As of September 30, 2020, the number of IoT devices (except smartphone and laptops) connected to the AIoT platform from Xiaomi reached 289.5 million units or grew 35.8% YoY.

Number of users who have five or more devices connected to the AIoT platform from Xiaomi (except smartphone and laptops) to 5.6 million people or grew 59% YoY.

source: between

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