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Xiaomi earns $7.3 billion in the third quarter of 2018

The finances of Xiaomi have increased up to 49.1%

The big Chinese company has published its financial report for the third quarter of this year, where it has revealed that Xiaomi Corp. has managed to register an income of 50.80 million yuan, which is equivalent to $7.3 billion in profits, representing an annual increase of 49.1%. In addition, the brand also records 2.9 billion yuan, increasing 17.3% net profit. This means that despite the losses that Xiaomi’s finances had this year, they have managed to get ahead and exceed expectations in the long term.

The financial report proves that Xiaomi is more than just a Smartphones brand

Xiaomi

According to the latest report on Xiaomi’s finances, it revealed that sales in the last quarter of the company could achieve steady growth, highlighting business abroad, IoT products (Internet of Things), internet services of goods and consumption, demonstrating the enormous growth that the company had in recent months.

This market expansion has made it clear that Xiaomi is much more than a brand of smartphones, since it goes further, in this way they prove that they are a complete internet company.

Xiaomi smartphones exceeded 100 million units in sales

Xiaomi

Thanks to the incredible catalog of smartphones that the Chinese manufacturer has, it has been able to register about 35 billion yuan in sales, which represents that in mobile phone business it could obtain an increase of 36.1%. Much of the sales in phones came from smartphones, so they had an income of 33.3 billion yuan, representing an increase of 20.4% compared to the previous year.

It seems that this year has been one of the best years that Xiaomi’s finances could have, not to say the best, since there is still more than a month to finish the year. Since October 26, units sold only on smartphones have exceeded 100 million, shipments of the Xiaomi Mi 8 series were close to 6 million units sold at the end of the third quarter, according to the report, the high-range phones have accounted for the company’s 31% of total revenues in mobile phones. It should be noted that the average sales price (ASP) of Xiaomi phones year after year, and even quarter after quarter, has increased slightly.

However, not only the phones that the company has launched have been successful, but the increase in the brand’s income is also due to the fact that its Internet services segment has also grown, reaching 4.7 billion yuan in the third quarter of 2018, an interannual increase of 85.5%.

Not only did Xiaomi’s finances have increased this year, but advertising revenues increased by 109.8%, MIUI’s monthly active users were also reported to reach 224 million in the third quarter, representing 43.4% in comparison with last year. Similarly, the average revenue per user (ARPU) for the quarter was 21.1 yuan, an increase of 29.4%, the business of IoT and consumer goods have contributed a total revenue of 10.8 billion yuan in the third quarter, representing an increase of 89.8%.

Finally, the total revenues in business in the first quarters of this year have been able to reach 28.9 billion yuan, which has exceeded with a considerable amount the total income of IoT and the consumer goods business, which reached a maximum of 23.45 billion yuan before this year.

Source: Gizmochina

Read more: Xiaomi Mi MIX 3 vs Honor Magic 2 vs iPhone XS

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