Xiaomi's Revenue Hits CNY 78 Billion in Q3 2021

Consumer Discretionary Author: EqualOcean News Nov 24, 2021 03:31 PM (GMT+8)

As of Q3 2021, Xiaomi has invested in more than 360 companies, with book value of CNY 59.1 billion.

Xiaomi technology campus

Xiaomi releases its Q3 earnings report for the period ended September 30, 2021, on November 23.

·       Internet service revenue was CNY 7.3 billion, a 27.1% year-on-year increase, with 73.6 gross margin

·       IoT and consumer products business revenue was CNY 20.9 billion.

·       Net profit was CNY 5.2 billion, a 25.4% year-on-year increase.

·       Global shipments of smartphones were 43.9 million units, ranking third in the world, with a 13.5% market share.

·       The number of users of devices (excluding smartphones, tablets and laptops) exceeds 8 million, with more than 400 million devices connecting to Xiaomi Group's AIoT platform.

·       R&D investment was CNY 3.2 billion, a 39.5% year-on-year increase.

So far, the company has built the world's largest consumer IoT platform, connected to more than 100 million smart devices, and entered more than 100 countries and regions around the world.