The average selling price of a smartphone has risen slightly
Xiaomi has published a report on the results of the second quarter of fiscal year 2023.
Xiaomi remains a brand of very cheap smartphones.
Xiaomi’s smartphone revenue fell 13.27% to $5 billion. Sales of smartphones in quantitative terms fell by 15.8% to 32.9 million units. At the same time, interestingly, profit increased by 33%, to $658 million. This indicates that Xiaomi has begun to sell more higher-margin products. The average selling price also increased, albeit slightly, from $148.8 to $154.37. Despite all the efforts, Xiaomi still remains primarily a manufacturer of very affordable smartphones.
If we talk about the performance of the company as a whole, then the revenue amounted to 9.2 billion dollars, having decreased by 4% over the year. But operating profit grew by 133% to $555 million.
