Xiaomi this week reported its earning for the third quarter (Q3 2018) that ended September 30, 2018. It reported revenue of 50.846 billion yuan (US$($7.3 billion), an increase of 49.1% year-on-year, among which international revenue grew 112.7% year-on-year to 22.3 billion yuan, accounting for 43.9% of total revenue. Net profit for the third quarter was 2.481 billion yuan ($357 million) for the quarter. Adjusted profit (Non-IFRS Measure) increased was 2.885 billion yuan, up 17.3% YoY and up 36.3% QoQ.
- International revenue grew 112.7% year-on-year, contributing to a higher percentage of total revenue.
- Smartphones segment recorded revenue of approximately RMB35.0 billion, representing an increase of 36.1% year-on-year, which was mainly driven by increases in both smartphone sales volume and the average selling price (“ASP”).
- 33.3 million smartphones shipped in Q3 2018, up 20.4% YoY
- As of October 9, 2018, flagship Mi 8 series shipped over 6 million units
- As of October 26, 2018, Xiaomi’s smartphone shipments exceeded 100 million units, successfully achieving full-year target more than two months ahead of schedule.
- Monthly active users (“MAU”) of MIUI increased 43.4% from 156.5 million in September 2017 to 224.4 million in September 2018. The average revenue per MIUI user (“ARPU”) for the quarter under review increased by 29.4% year-on-year to RMB21.1.
- Revenue from the IoT and lifestyle products segment grew the fastest year-on-year by 89.8% to RMB10.8 billion.
- Revenue from smart TV and laptop sales increased by 100.3% to RMB4,227.2 million in the
- Revenue from the internet services segment grew 85.5% year-on-year to RMB4.7 billion in the third quarter of 2018, driven primarily by increasing monetization on Chinese mainland.
- Advertising revenue grew by 109.8% year-on-year to RMB3.2 billion