Xiaomi’s sales from smartphones are growing much faster than those from TVs and laptops

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Xiaomi’s smartphone sales increased by 47.5 percent in the past quarter. Turnover from TVs and laptops increased by 2.6 percent. Smartphones take a larger share of Xiaomi’s sales compared to last year.

Xiaomi shipped 46.6 million smartphones in the third quarter of 2020, an increase of 45.3 percent compared to the same period last year. In an explanation of its quarterly figures, Xiaomi attributes the increase in delivery partly to increased deliveries in China, and in the home country the average sales price of smartphones also rose, by 14.7 percent. Xiaomi also mentions Western Europe as a region of strong growth and increased average sales price. In Western Europe and worldwide, Xiaomi would now occupy the third position in the smartphone market, with Xiaomi referring to market figures from research firm Canalys.

Xiaomi introduced the Mi 10 Ultra, Mi 10T and Mi 10T Pro, and the K30 Ultra and Redmi K30S Ultra in the third quarter. The Ultra models did not appear in Europe. In the first ten months of 2020, Xiaomi sold 8 million smartphones worldwide with a sales price of 300 euros or more, with which the company wants to underline that it also serves the higher segments of the smartphone market.

The other activities showed less spectacular growth. The quarterly turnover from IoT & Lifestyle, which includes wearables, laptops and TVs, increased by 16.1 percent and the turnover increase from TVs and laptops was 2.6 percent. Smartphones are therefore responsible for 66 percent of Xiaomi’s turnover, compared to 60 percent last year. The share of IoT & Lifestyle in the turnover decreased from 29 percent last year to 25 percent and the share of turnover from internet services also decreased, from 9.9 to 8 percent.

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