Xiaomi Q3 revenue surges by 30.5 percent

Chinese smartphone maker Xiaomi Corp. experienced a 30.5 percent surge in revenues from July to September, driven by the robust performance of its core businesses.

File photo: Xiaomi 14T co-engineered with Leica

Xiaomi maintains growth momentum

In a statement, the company said revenues in the third quarter reached RMB (CNY) 92.5 billion, with its smartphone segment providing the biggest contribution.

Xiaomi Corporation 2024 Q3 results

Breaking down, the smartphone business recorded RMB 47.5 billion in revenues; Internet of Things (IoT) and lifestyle services had RMB 26.1 billion; while internet services posted RMB 8.5 billion.

Revenue from the smart electric vehicle and other businesses also hit RMB 9.7 billion.

During the period, global smartphone shipments of Xiaomi reached 43.1 million units, 3 percent higher than a year ago. Given this, Canalys said Xiaomi continued to be in the top three in terms of smartphone shipments for the 17th consecutive quarter.

Amid its continuous robust performance, Xiaomi's market share stood at 13.8 percent.

Its IoT ecosystem likewise kept its growth momentum, with shipments of both refrigerators and washing machines hitting record highs.

Embracing our vision of "Make friends with users and be the coolest company in the users' hearts", Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology, the company said.

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