When it comes to smartphones that take up the majority of the world’s Android market share, you can think of Xiaomi as second only to Samsung. We’ve got the Xiaomi Q3 2022 financial reports and there seems to be some reduction but there is still good news and improvements as well.
What do Xiaomi Q3 2022 financial reports say?
First off, the July to September revenue sums up to about $10 billion which is a 10 percent drop compared to last year. However, the revenue didn’t just go down the drain, it was channelled into the investment the brand has got going on(the EV business and some other projects). So this shouldn’t be a loss, we know how investments turn out.
Besides, the Xiaomi Q3 2022 financial reports further note that the brand had a 25 percent increase in investment and also gained an appreciable number of users this quarter. There was a 16 percent yearly increase in the users of the MIUI software of which(interestingly) only 25 percent are from China (that’s a significant improvement).
Meanwhile, there was a significant decline in smartphone shipment and revenue (7.8 percent yearly decline in shipment and 11 percent decline in revenue) of which Xiaomi mentions the “global macroeconomic headwinds” to be the cause, 50.5 percent of revenue came from overseas markets. The Xiaomi Q3 2022 financial reports also take note of the little dominance the brand has shown across different markets.
Xiaomi takes second place in most European markets, Italy and France, 3rd in Latin America and Africa and first place in Spain. Furthermore, in a bid to secure more purchases in the European markets, Xiaomi lets more smartphones go out via carrier channels other than third-party sources. Well, given the smartphones (with a lot of interesting features) which are set to debut before the end of the year, there should be an improvement as to the revenue numbers in Q4 2022.
