Xiaomi's third-quarter net profit of 5.99 billion yuan increased by 182.9% over the same period last year, and smartphone shipments of 41.8 million units increased by 4% compared with the same period last year.
CTOnews.com November 20 news, Xiaomi Group announced its results for the third quarter up to the end of September on November 20. Revenue in the third quarter was 70.89 billion yuan, estimated at 70.46 billion yuan, up 0.6% from the same period last year. The adjusted net profit in the third quarter was 5.99 billion yuan, estimated at 4.65 billion yuan, up 182.9% from the same period last year. The operating profit in the third quarter is 5.01 billion yuan, which is estimated to be 5.37 billion yuan, compared with a loss of 1.36 billion yuan in the same period last year.
CTOnews.com noted that Xiaomi's smartphone revenue in the third quarter was 41.6 billion yuan. Global smartphone shipments reached 41.8 million units, an increase of 4.0% year-on-year and 27.0% month-on-month.
Xiaomi's income from IoT and consumer products in the third quarter was 20.67 billion yuan, up 8.5% from the same period last year, while revenue from Internet services was 7.76 billion yuan, up 9.7% from the same period last year. Among them, the number of IoT devices connected to the AIoT platform (excluding smartphones, tablets and laptops) reached 699 million, an increase of 25.2% over the same period last year.
Xiaomi's R & D expenditure in the third quarter of 2022 increased by 22.0% from 4.1 billion yuan in the third quarter of 2022 to 5 billion yuan in the third quarter of 2023, mainly due to an increase in R & D spending related to smart electric vehicles and other innovative businesses. In addition, R & D personnel account for more than 53%.
According to Xiaomi, the group's gross profit margin reached an all-time high of 22.7% in the third quarter. The global smartphone market share has returned to growth, and its market share has increased to 14.1%. It is the only manufacturer with positive growth in shipments in the top three in the world.
