Xiaomi Corporation , a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, announced its unaudited consolidated results for the three and six months ended September 30, 2021.
In the third quarter of 2021, Xiaomi’s total revenue amounted to RMB 78.1 billion, representing an increase of 8.2% year-over-year, adjusted net profit for the period was RMB5.2 billion, an increase of 25.4% year-over-year. Impacted by global macro-environment as well as market sentiment towards the technology sector in China in the third quarter, Xiaomi’s long-term investments measured at fair value through profit or loss in the current period have generated unrealized financial losses, which have had a substantial impact on Xiaomi’s net profit. Nonetheless, Xiaomi’s core business profitability maintained steady growth. Xiaomi showcased excellent business model and operation with total revenue and adjusted net profit both maintained solid growths.
Meanwhile, Xiaomi global MIUI 30-day active users has exceeded 500 million as of 22 November, 2021, marking another milestone for Xiaomi’s “Smartphone x AIoT” strategy.
Q3 2021 financial highlights:
- Total revenue at RMB78.06 billion, up 8.2% YoY;
- Gross profit at approximately RMB14.29 billion, up 40.6% YoY;
- Non-IFRS adjusted net profit was RMB5.18 billion, up 25.4% YoY.
Xiaomi Corporation said, “During the third quarter of 2021, we continue to strengthen our core ’Smartphone × AIoT’ strategy and advance in the premium smartphone market. We ranked 1st in terms of smartphone shipments in 11 countries and regions. We continued to explore and innovate in product and technology to further enhance our competitiveness in the premium market. Our internet services revenue reached a new quarterly high and we remain committed to investing in research and development that underpins our products’ core competitiveness.” As of 22 November, 2021, Xiaomi’s global MIUI 30-day active users exceeded 500 million, marking another milestone for the “Smartphone x AIoT” strategy.