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Xiaomi’s YoY revenue grew by 8.2% in third quarter

Xiaomi group today announced the third quarter of the 2021 financial report. Xiaomi’s total revenue for the third quarter reached RMB 78.1 billion, a year-on-year increase of 8.2%adjusted net profit reached RMB 5.2 billion, a year-on-year increase. An increase of 25.4%, total revenue, and adjusted net profit was higher than Bloomberg consensus expectations.

In Q3 2021, Xiaomi’s Internet business performed well, with Internet service revenue of RMB 7.3 billion, a year-on-year increase of 27.1%. As of November 22, 2021, the number of global MIUI 30-day monthly active users exceeded 500 million. Since the beginning of 2021, MIUI has added about 100 million new monthly active users worldwide, and domestic monthly active users have increased by 18.65 million.

Moreover, the company revenue is being affected by the tight global supply of core components, Xiaomi still achieved a stable supply level. In Q3 of 2021, Xiaomi’s smartphone revenue was RMB 47.8 billion, and global smartphone shipments were 43.9 million units. Shipments in the first three quarters have reached 146 million, basically the same as last year.

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In the first three quarters of 2021, Xiaomi shipped nearly 18 million high-end flagship mobile phones priced at 3,000 yuan or more and overseas priced at 300 euros and above, accounting for more than 12%.

Furthermore, Xiaomi Smart TV will ship 3 million units globally in Q3 2021. According to data from Aowei Cloud Network, Xiaomi TV has consistently ranked first in China’s mainland shipments for eleven consecutive quarters, and global TV shipments have consistently ranked among the top five.

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As of September 30, 2021, the number of connected devices on the Xiaomi AIoT platform exceeded 400 million for the first time, a year-on-year increase of 33.1%; there are five or more devices connected to the Xiaomi AIoT platform excluding smartphones, tablets, and laptops the number of users is 8 million, An increase of 42.8% year-on-year. In September 2021, the number of monthly active users of Xiao Ai reached 105 million, a year-on-year increase of 34.1%.

Xiaomi’s overseas Internet service revenue reached RMB 1.5 billion, a year-on-year increase of 110.0%, and its share of overall Internet service revenue rose to 19.9%. The overseas Internet service revenue and its proportion both hit a record high.

In Q3 of 2021, with the continuous improvement of ecological vitality, Xiaomi’s advertising business revenue reached a record high in a single quarter, reaching RMB 4.8 billion, a year-on-year increase of 44.7%, maintaining a quarter-on-quarter growth for 7 consecutive quarters.

Besides, Xiaomi’s overseas market revenue was RMB 40.9 billion, accounting for 52.4% of total revenue. According to Canalys statistics, in terms of smartphone shipments, Xiaomi ranked in the top five in terms of market share in 59 countries and regions in the third quarter and ranked first in the smartphone market in 11 countries and regions.

In overseas operator channels, Xiaomi smartphone shipments exceeded 6.8 million units, a year-on-year increase of over 130%. According to Canalys data, Xiaomi’s market share in the operator channels in Western Europe increased from 4.6% in the same period last year to 13.0% in the third quarter of this year.

(VIA)

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