In a press conference held by the Information Office of the State Council, Xiaomi chairman Lei Jun said that the company’s revenues in the third quarter of this year abroad increased by 112.7% compared to previous years, representing thus 43.9% of the total income that this company obtains.
Yesterday, a group belonging to Xiaomi announced the earnings report for the third quarter of this year, and the data shows that its revenues were 50.8 billion yuan (which at the current rate would be around $7.32 billion), being the result of the high popularity that the company has around the globe nowadays.
The huge gain that Xiaomi obtained from abroad
In addition to the fact that the income that Xiaomi obtains thanks to the foreign markets increased by 112.7%, representing 43.9% of its total income, the revenue from Internet services increased by 85.5%, also the sales of Mi TVs increased by 198.5%. LoT and other products profits also increased compared to last year.
As we know, this great Chinese brand has promoted its own products to the international market, and has become a popular brand in many parts of the world. Since November of last year, Xiaomi has officially arrived in the European market after experiencing the sweetness of India. Likewise, the first stores in Spain, France and Italy were opened to help with the growth of the company and, therefore, it can be said that Europe has become an important market for Xiaomi’s globalization strategy.
Some of the achievements that this company has achieved
Regarding this growth, Lei Jun said: ‘Xiaomi has been in the business for 8 years, and the progress of its internationalization has exceeded our own imagination.’ In addition to having said that, he revealed that the company has been increasingly engaging abroad, and has managed to enter more than 80 countries and regions. On the other hand, the company is in the top 5 of the best markets in the world, bringing various technology products, administration, and financing to these markets.
After that, Jun also added: “The further development of Chinese companies will not only make Chinese brands known throughout the world, but also technical cooperation will bring many benefits for local economic development and the improvement of life of people, as well as achieve a beneficial situation for everyone. “
Xiaomi in the United States?
While all this was happening, Xiaomi CFO, Zhou Guangping, said that the US territory is a big market and that it will be a very important thing for the company. Currently, Xiaomi has been paying attention and is actively preparing to reach this huge country, so it will not take long to do so.
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