13C
Delhi
Tuesday, January 19, 2021

Xiaomi logs record sales in Q3, smartphone biz shines again

- Advertisement -

Xiaomi generates employment for over 50,000 people in IndiaHong Kong, Nov 24 (IANS) Xiaomi on Tuesday announced its third quarter results, beating industry estimates with record revenue and net profit riding on the stellar performance of its smartphone business.

The China-based company registered 72.2 billion yuan (nearly $1.09 billion) in the September quarter — a 34.5 per cent (on-year) growth, with a net profit of 4.1 billion yuan.

Smartphone revenues was 47.6 billion yuan — registering (on year) growth of 47.5 per cent with a global shipment of 46.6 million units.

In Q3 2020, Xiaomi’s revenue from overseas markets increased 52.1 per cent to 39.8 billion yuan, accounting for 55.1 per cent of total revenue.

READ ALSO:  ZTE 4G hotspots gateways to malicious websites: Report

“During the quarter, we achieved sustained growth across various business segments and the Group continues to pursue its core ‘Smartphone x AIoT’ strategy,'” Xiaomi Corporation said in a statement.

“We have the world’s leading smartphone business and consumer IoT platform with the former continuing to grow despite headwinds”.

In Q3 2020, Xiaomi’s smartphone business grew significantly – both revenue and shipments achieved record high levels — and kept the momentum for growth in both mainland China and in overseas markets.

According to Canalys, Xiaomi ranked third globally in terms of smartphone shipments with a market share of 13.5 per cent in Q3. Xiaomi’s smartphone shipments market share in mainland China climbed to 12.6 per cent in the third quarter of 2020 from 9 per cent in the same period of 2019, maintaining a top four position.

READ ALSO:  My hunger, passion hasn't diminished at all: Pankaj Advani

Xiaomi continued its leadership in the mainland China smart TVs market and introduced a number of flagship products within the Mi TV Master Series in Q3 2020, further solidifying its position in the premium market.

READ ALSO:  Samsung hopes S21 series to boost smartphone sales in 2021

Global shipments of Xiaomi’s Smart TVs reached 3.1 million units.

Xiaomi also maintained a leading position in a wide array of IoT products and continuously broadened its product portfolio and brought innovative technologies to users in the quarter.

Source: IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India

Covid-19 vax: WHO warns of ‘catastrophic moral failure’

Geneva, Jan 19 (IANS) The world faces a "catastrophic moral failure" because of unequal Covid-19 vaccine policies, the head of the World Health Organization...

SC asks Centre to share policy for declaring public holidays

New Delhi, Jan 18 (IANS):The Supreme Court on Monday asked the Centre to share its policy for declaring public holidays. The observation was made...

Talks between govt, farmer leaders postponed to Jan 20

New Delhi, Jan 19 (IANS) The Union Ministry of Agriculture and Farmers Welfare on Monday said that the meeting between a group of ministers...

Stalin first choice for CM’s post in Tamil Nadu

New Delhi, Jan 18 (IANS) DMK's M.K. Stalin is the first choice of the people of Tamil Nadu for the post of Chief Minister...