Earlier today, Xiaomi Group released the third-quarter financial report as of September 30, 2021.
Xiaomi Groupo Revenue In Q3 2021
The financial report shows that the Xiaomi Group’s third-quarter revenue was 78.06 billion yuan ($12.22 billion), an increase of 8.2% year-on-year. Under non-IFRS, adjusted net profit was 5.176 billion yuan ($0.81 billion), a year-on-year increase of 25.4%. Earnings per share for the third quarter were 0.03 yuan ($0.0047).
Xiaomi Group said that in the third quarter, smartphone business revenue reached 47.8 billion yuan ($7.48 billion), with a gross profit margin of 12.8%, a year-on-year increase of 4.4%; Xiaomi’s global smartphone shipments reached 43.9 million units, ranking third in the world, with a market share of 13.5%. Xiaomi Group expects that the annual mobile phone shipments in 2021 will be approximately 190 million units.
In Q3 of 2021, Xiaomi’s overseas Internet service revenue reached 1.5 billion yuan ($0.23 billion), a year-on-year increase of 110.0%, and its share of overall Internet service revenue rose to 19.9%. The overseas Internet service revenue and its proportion both hit a record high.
In Q3 of 2021, with the continuous improvement of ecological vitality, Xiaomi’s advertising business revenue reached a record high in a single quarter, reaching 4.8 billion yuan ($0.75 billion), a year-on-year increase of 44.7%, maintaining a quarter-on-quarter growth of 7 consecutive quarters.
Xiaomi’s Overseas Business
Also, in Q3 of 2021, Xiaomi’s overseas market revenue was 40.9 billion yuan ($6.4 billion), accounting for 52.4% of total revenue. According to Canalys statistics, in terms of smartphone shipments, Xiaomi ranked the top five in terms of market share in 59 countries and regions in the world in the third quarter. It also ranked first in the smartphone market in 11 countries and regions.
In Q3 of 2021, in overseas operator channels except for India, Xiaomi smartphone shipments exceeded 6.8 million units, a year-on-year increase of over 130%. According to Canalys data, Xiaomi’s market share in the operator channels in Western Europe increased from 4.6% in the same period last year to 13.0% in the third quarter of this year.
MIUI Monthly Active Users Exceeded 500 Million
In Q3 2021, Xiaomi’s Internet business performed well. Its Internet service revenue of 7.3 billion yuan ($1.14 billion), a year-on-year increase of 27.1%. As of November 22, 2021, the number of global MIUI 30-day monthly active users exceeded 500 million. Since the beginning of 2021, MIUI has added approximately 100 million new monthly active users worldwide. At the same time, the domestic monthly active users have increased by 18.65 million.
On August 16, 2010, MIUI became reality. After five years, on August 19, 2015, MIUI global monthly active users exceeded 100 million. On June 6, 2018, MIUl’s global monthly active users exceeded 200 million. Next year, on October 28, 2019, MIUI global monthly active users exceeded 300 million. Earlier this year, on January 17, 2021, MIUI global monthly active users exceeded 400 million.
In August of this year, Xiaomi released an enhanced version of MIUI 12.5. The MIUI 12.5 enhanced version fixes 160 system header problems and 224 system application problems. At the same time, it brings all-around optimization from the bottom frame to the upper application. The MIUI 12.5 enhanced version supports liquid storage. The latter can monitor the degree of fragmentation with high sensitivity and increase the efficiency of defragmentation by 60%. The Xiaomi Mi 11 Pro’s laboratory simulation test shows that the reading and writing attenuation is less than 5% after 36 months of use. In addition, the MIUI 12.5 enhanced version uses atomic memory, supports ultra-fine memory management, splits application memory, gives priority to ending unimportant tasks, and refines and compresses memory usage. Taking the Mi 10 Ultra as an example, the back-end residency capacity has increased by 64%.
Xiaomi Group Shipments
In the first three quarters of 2021, Xiaomi shipped nearly 18 million high-end flagship mobile phones. They cost 3,000 yuan ($470) or more (300 euros and above). This is more than 12% of the company’s shipped smartphones.
The Xiaomi Smart TV shipped 3 million units globally in Q3 2021. According to data from Aoweiyun.com, Xiaomi TV has consistently ranked first in China’s shipments for eleven consecutive quarters. In the world, the Xiaomi Smart TV now ranks among the top five.
As of September 30, 2021, the number of connected devices on the Xiaomi AIoT platform exceeded 400 million for the first time, a year-on-year increase of 33.1%. The number of users that connect more than 5 devices to the Xiaomi AIoT platform (excluding smartphones, tablets, and laptops) is 8 million. It’s an increase of 42.8% year on year. In September 2021, the number of monthly active users of Xiao Ai reached 105 million, a year-on-year increase of 34.1%.
On March 30, 2021, Xiaomi officially announced the establishment of a wholly-owned subsidiary responsible for Xiaomi’s smart electric vehicle business. At present, the smart electric vehicle business is progressing smoothly, with more than 500 team members. The first Xiaomi smart electric vehicles are expected to be officially mass-produced in the first half of 2024.
Xiaomi Group’s spokesperson also talked about the supply chain and global core shortage. Xiaomi Group stated that the chip shortage will be alleviated in 2022, especially in the second half of the year.