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Xiaomi has released its financial report for the first quarter of 2023 and the numbers look promising for the Chinese manufacturer that is also about to join the electric vehicle game. The company had 594.8 million monthly active users between January and March 2023 and managed to hit the 600 million milestone at the time of the announcement.
The smartphone business achieved revenues of CNY 35 billion (just under $5 billion), with shipments of 30.4 million devices. ASP was CNY 1,152 ($163), up 2.7% from the previous quarter.
Xiaomi ranked third in Q1 2023 with 11.3% market share, but leaders Apple and Samsung each shipped nearly double the number of phones between January and March.
In its home market, the company improved by 22.2% QoQ in terms of units sold, but vivo managed to outpace it, propelling Xiaomi to fourth place; Apple was first and Oppo came in second.
Xiaomi Q1 results
Total revenue was CNY 59.5 billion ($8.43 billion) and adjusted net income was CNY 3.2 billion ($450 million), but if we include business-related expenses of smart electric vehicles, the number was actually CNY 1.1 billion (US$150 million).
The post continues on our Blog: Xiaomi Q1 results: 30М phones sold, 600 million active users reached
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The smartphone business achieved revenues of CNY 35 billion (just under $5 billion), with shipments of 30.4 million devices. ASP was CNY 1,152 ($163), up 2.7% from the previous quarter.
Xiaomi ranked third in Q1 2023 with 11.3% market share, but leaders Apple and Samsung each shipped nearly double the number of phones between January and March.
In its home market, the company improved by 22.2% QoQ in terms of units sold, but vivo managed to outpace it, propelling Xiaomi to fourth place; Apple was first and Oppo came in second.
Xiaomi Q1 results
Total revenue was CNY 59.5 billion ($8.43 billion) and adjusted net income was CNY 3.2 billion ($450 million), but if we include business-related expenses of smart electric vehicles, the number was actually CNY 1.1 billion (US$150 million).
The post continues on our Blog: Xiaomi Q1 results: 30М phones sold, 600 million active users reached
What do you think about it? Feel free to reply below!
