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Xiaomi posts their revenue in 2022 Q3, 10 billion US Dollars!

The unaudited consolidated results for the three months ending September 30, 2022 (the “2022 Q3”) were released by Xiaomi. Xiaomi reported revenue of 70.5 billion Chinese Yuan for the period under review. The adjusted net profit was 2.1 billion CNY, which also took into account 829 million CNY in costs for the smart EV and other new projects.

Despite the difficulties in the worldwide markets, Xiaomi has started to turn a profit by executing its own “Smartphone x AIoT” strategy. According to Canalys, with a 13.6% market share, the Xiaomi Group maintained its No. 3 position in terms of global smartphone shipment rankings.

Xiaomi keeps making research and development investments. Xiaomi spent 4.1 billion CNY on research and development in the third quarter of 2022, up 25.7% from the same period the previous year. In September 2022, about 48% of all employees were working in research and development.

Despite weakening demand in the global smartphone industry, Xiaomi’s smartphone business has grown up. According to Canalys, the Group maintained its #3 global smartphone shipment ranking with a market share of 13.6%. Smartphone shipments increase by 2.8% to 40.2 million units in the third quarter of 2022, marking a quarterly increase for the second consecutive quarter.

In the third quarter of 2022, Xiaomi’s market share of smartphone shipments was in the top three in 52 countries and among the top five in 64 countries. In markets including Europe, Latin America, and the Middle East, the Group’s market share for smartphones increased. Xiaomi’s smartphone shipments in Europe during the third quarter were ranked No. 2 by Canalys, with a 23.3% market share, an increase of 1.8 percentage points compared to the same period last year.

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