MPR Kontakt Icon
Choose language
MPR Suche
MPR Close
Schließen
Zurück

Xiaomi posted 34 percent increase in third quarter revenue

31. December 2020

Xiaomi Corporation, a Chinese smartphone manufacturer, recently announced its latest financial results. Revenue in the third quarter of 2020 was around $11 billion, up 34 percent year-on-year and also the highest revenue growth in two years. However, Xiaomi President Wang Xiang expressed concerns of supply chain shortages for the industry as a whole. Despite this challenge, he said he was still confident that his company would end the year with satisfactory results.

 

 

According to analysts, Xiaomi smartphone sales increased due to a decision by the U.S. government to restrict the trade and import of products from rival Huawei Technologies. This was also confirmed by Xiang Ligang, chairman of the Information Consumption Alliance, a telecommunications industry association. According to the China Daily newspaper, U.S. chipmaker Qualcomm Inc. received permission to supply certain products to Huawei’s Chinese sites. Therefore, with Huawei continuing to produce 4G smartphones, Xiaomi expects to face strong competition in overseas markets such as Eastern Europe, Russia, the Middle East and Africa in the coming year, where 4G cell phones continue to be in demand.

Xiaomi said it shipped 46.6 million devices from July to September, up 45.3 percent from the same period last year. Among those, more than half of the third-quarter sales were generated in Europe. Growth in that market was 52.1 percent, with revenue totaling $6 billion. Xiaomi’s adjusted net income in the third quarter was $627 million, above expectations of $504 million. It is worth noting that Xiaomi’s business in Internet services such as music and video streaming grew only 8.7 percent compared to 29 percent a year earlier. Electronic devices such as smartphones may only be imported into China, sold in China and used in business activities in China after the product has undergone CCC certification.

For more information on how CCC certification, the CCC Self-Declaration and voluntary CCAP or CQC certification may affect your company, or for more information about CCC certification in general, the process, and the associated costs, please visit our website and our News Section where you will find current updates twice a week.

Please do not hesitate to contact us for further details and consultation. You can contact us via e-mail, or call us (UK: +44 2071931135, Rest of Europe: +49 69 2713769150, US: +1 773 654-2673).
Please don’t hesitate to also use our chat-window in the bottom right corner if you have any questions. (Please check your browser settings if you can’t see the window)

You can also check out our free CCC-Brochure, which can be downloaded right here as a PDF file or you consult our book (in English) “A Brief Guide to CCC: China Compulsory Certification”, which can be found directly here on Amazon.

Here you can download our brochure about the CCC Self-Declaration.

Here you can download our brochure about the voluntary CCAP or CQC certification.

Julian Busch

About the author: Julian Busch is founder and Managing Director of MPR China Certification GmbH Publisher: MPR China Certification GmbH Tel.: +49 69 271 37 69 150 E-Mail: <a href="mailto:info@china-certification.com">info@china-certification.com</a> Web: <a href="https://www.china-certification.com/">www.china-certification.com</a>

MPR Author

About the author: Julian Busch is founder and Managing Director of MPR China Certification GmbH
Publisher: MPR China Certification GmbH

Tel.: +49 69 271 37 69 150

E-Mail: info@china-certification.com
Web: www.china-certification.com

Julian Busch

About the author: Julian Busch is founder and Managing Director of MPR China Certification GmbH Publisher: MPR China Certification GmbH Tel.: +49 69 271 37 69 150 E-Mail: <a href="mailto:info@china-certification.com">info@china-certification.com</a> Web: <a href="https://www.china-certification.com/">www.china-certification.com</a>

Julian Busch

About the author: Julian Busch is founder and Managing Director of MPR China Certification GmbH
Publisher: MPR China Certification GmbH

Tel.: +49 69 271 37 69 150

E-Mail: <a href="mailto:info@china-certification.com">info@china-certification.com</a>
Web: <a href="https://www.china-certification.com/">www.china-certification.com</a>