On 24 November, Xiaomi released its Q3 quarterly financial report. At the same time, the company announced that its revenue reached 72.2 billion yuan ($10.97 billion), a year-on-year increase of 34.5%. Plus, we learned that the smartphone shipments reached 46.6 million units, a year-on-year increase of 45.3%.
In Xiaomi’s smartphone business, not only sales have soared, but also the company has made important breakthroughs in the high-end phone market. According to the data released by Xiaomi, from January to October this year, the global sales of smartphones priced higher than 3,000 yuan (mainland China) or 300 euros (overseas) exceeded 8 million units.
Xiaomi released the Mi 10 and Mi 10 Pro series smartphones in February this year. It was priced at 3999 yuan ($607) and 4999 yuan ($759), respectively. In August, at the 10th-anniversary conference, it launched the Mi 10 Ultra, priced at 5299 yuan ($805).
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Xiaomi has not disclosed the specific sales volume of the Xiaomi Mi 10 series. But the important breakthrough that Xiaomi made in the high-end market this year obviously refers to the Mi 10 series.
At present, Xiaomi is already at the forefront of many markets in the world. According to Canalys, Xiaomi’s Q3 market share has increased to 13.5%, ranking third. Its domestic market share has increased to 12.6%, ranking fourth.
Its shipment volume in Western Europe increased by 107.3% year-on-year, and its market share increased to 13.3%, ranking third. The market share in Central and Eastern Europe increased to 26.9%, ranking second. Its rapid growth in Latin America, the Middle East, and Africa increased its market share to 9.0%, 17.4%, and 10.7%, respectively. In all markets, it entered the top four.
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