Highlights of the Xiaomi Financial Report for Miui Include: More Than 564 Active Users: Xiaomi’s third-quarter financial report reveals the company’s performance and whether or not it meets its objectives. A few key elements have been emphasized by us.
Third-quarter revenue for Xiaomi came in at RMB 70.5 billion ($9.84 billion), down 9.7 percent year over year. But its adjusted net profit of RMB 2.1 billion ($290 million) was down 59.1 percent year-on-year.
The Chinese company might earn $42.5 billion yuan ($5.93 billion) in global smartphone sales with a shipment volume of 40.2 million units, up 2.8% from the previous quarter. The company’s smartphone division expanded for the second consecutive quarter.
According to Xiaomi’s quarterly earnings report, the number of MIUI’s monthly active users has hit a new high. MIUI saw a year-over-year gain of 78.1 million MAUs, reaching 564 million in September 2022. As a result, MIUI has had eight straight quarters of user growth.
Compared to the previous year, the average selling price of Chinese smartphones rose by nearly 9 percent. Smartphone shipments costing more than RMB 3,000 ($419) increased by around 14% year over year. Obviously, domestically produced technology is essential to the development of the luxury market. As a result, they recognize the need of spending money on research and development.
Research and development costs were RMB 4.1 billion ($570 million), up 25.7% from the previous year. Around 48% of the workforce as of September 30, 2022, was comprised of research and development specialists.
According to Canalys, Xiaomi will be one of the top three smartphone vendors in the third quarter of 2022. The Chinese Apple is aiming for a 13.6 percent share of the global market. The company has distributed smartphones to 52 different nations and regions. In 64 different nations and areas, Xiaomi is a top 5 smartphone brand.
SEVERAL OTHER POINTS OF INTEREST IN THE XIAOMI FINANCIAL REPORT
The report also revealed that 558 million devices were connected to the Xiaomi AIoT platform, representing a year-over-year growth rate of 39.5%. Up 35.4% from a year ago, there are now 10.9 million people who own five or more smart gadgets between them.
It has seen tremendous success with its major household appliances. This has resulted in a year-over-year increase of over 70% in sales of connected home appliances. This company, for instance, sent out nearly a million air conditioners. This represents an increase of over 70% from the previous year. Furthermore, Xiaomi has increased its refrigerator shipments by over 150%, to over 340,000 units.
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