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Xiaomi’s revenues for the third quarter of 2019 is higher than ever

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Xiaomi’s revenues for the third quarter of 2019 were higher than ever at $7.63 billion. Smartphone sales still make up the bulk of the sales at $4.59 billion, however, this number is 7.8% down year on year. Xiaomi shipped 32.1 million smartphones in Q3, which puts it in fourth place globally (9.2% market share as per Canalys).

IoT devices and other consumer electronics accounted for $2.22 billion of the total revenue, that’s a sizable 44.4% increase compared to the same quarter last year. Xiaomi’s smart TVs and laptops alone brought in $824 million.

The company’s net profit for the first nine months of 2019 has reached $1.3 billion – a 37.1% increase over the same period last year.

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