Xiaomi keeps growing and is currently the third largest smartphone maker in the world

Xiaomi is currently doing very well with its smartphones. Sales from the company's smartphone arm grew by as much as 47.5 percent last quarter. However, this is in stark contrast to the numbers Xiaomi is making with its televisions and laptops, where sales grew by only 2.6 percent. 

If you compare the figures to last year's for the same period, you can see an increase of as much as 45.3 percent. In fact, Xiaomi sold 46.6 million smartphones in the third quarter. Average prices have gone up quite a bit and, of course, demand in China is very high. The price for a Xiaomi device has also gone up in Western Europe. In this part of the world, the smartphone maker is now the third largest smartphone seller. This was revealed in research by several market researchers, which showed that Xiaomi is more popular than Apple, for example. A number of devices were released in the third quarter of 2020, think the Mi 10T, Mi 10T Pro, Mi 10 Ultra, Redmi K30S Ultra and the K30 Ultra (although the Ultra models have not officially appeared in Europe). 

Xiaomi reveals that the company is also catering to the higher end of the market, selling about eight million smartphones with a retail price above 300 euros in the first 10 months of 2020. However, in terms of price, this still does not compare to the top models from Samsung and Apple, which cross the counter for much higher prices. As mentioned, other branches of the company did a lot less thunderously than smartphones. Sales from the loT and Lifestyle category (think televisions, laptops, wearables, etc.) rose 16.1 percent. Of this, profit remained at 2.5 percent. So from this you can conclude that the company's smartphones account for about 66 percent of sales, while last year it was 60 percent.

[SOURCE]

Image: © Zana