Xiaomi gained 45.3% YoY growth with record shipments of 46.6 million units in Q3 2020

by Sheetal

Recently, Xiaomi has confirmed its financial report for the third quarter of the year. As per the report, Xiaomi smartphone shipments reached 46.6 million units, an increase of 45.3% over the year.

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In the third quarter of 2020, Xiaomi’s revenue from overseas markets increased 52.1% YoY to RMB39.8 billion, accounting for 55.1% of total revenue, which marked record-high quarterly overseas revenue and overseas revenue contribution to total revenue.

According to Canalys, Xiaomi ranked third globally in terms of smartphone shipments with a market share of 13.5% in Q3 2020. From January to October, the Group sold more than 8 million units of smartphones globally with retail price points at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets.

Revenue from the internet services segment increased by 8.7% from Q3 2019 to RMB5.8 billion in Q3 2020. Overseas internet services revenue increased by 75.6% YoY to RMB0.7 billion, accounting for 12.0% of the total internet services revenue.

In Q3 2020, Xiaomi is on the top in the Indian market by capturing around 25% of the total market share and shipping 13.1 million units, calculating an increase of 9% YoY.

//Source

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