Xiaomi ranked third in the smartphone market in Q3 2020, ahead of Apple
Xiaomi Group published its financial report for the third quarter of 2020; its total revenue reached $ 10.95 billion, an increase of 34.5 over the same period last year.
Xiaomi has set a record for the quarter. Revenues and the average price of smartphones are growing
Adjusted net income reached $ 0.62 billion, up 18.9% year over year. Xiaomi Group’s smartphone revenue in the third quarter was $ 7.22 billion, up 47.5% from a year earlier. Xiaomi’s overseas revenue hit a record high for the quarter at over $ 6 billion, up 52.1% year over year. Xiaomi’s AIoT and consumer products segment revenues reached $ 2.75 billion, an increase of 16.1%.
Xiaomi confirmed in its financial report that in the third quarter of 2020, the Xiaomi smartphone business grew significantly, and both revenue and shipments reached record highs. Smartphone shipments were 46.6 million units this quarter, up 45.3% from a year earlier. According to the latest data from various research companies, Xiaomi ranked third in the smartphone market in the third quarter of 2020, ahead of Apple.
In the third quarter of 2020, the average selling price of Xiaomi smartphones was $ 155.07. A year earlier, it was $ 152.67. The average price in China increased by 14.7%. The most popular was the entry-level models of the Redmi 9 series.
