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Xiaomi reports growth of revenue and profit in Q3 2021

Megan Robinson
November 23, 2021

The smartphone brand has seen global growth during last quarter

Xiaomi has published its Q3 results, showing a total revenue growth of 8.2 per cent year-on-year which amounts to £9.1bn.

Gross profit has increased 40.6pc year-on-year to £1.7bn, and adjusted net profit has risen by 25.4pc to RMB5.2 billion during this period.

Overseas markets also showed impressive growth in the third quarter, totalling £4.8bn which accounts for 52.4pc of total revenue.

Despite the global components and microchip shortage, Xiaomi is now number one for shipments across 11 countries and regions and among the top five in 59 countries and regions. 

A spokesperson for Xiaomi said: “During the third quarter of 2021, we continued to strengthen our core ’Smartphone × AIoT’ strategy and advance in the premium smartphone market.

“We ranked first in terms of smartphone shipments in 11 countries and regions.”

In the third quarter, Xiaomi ranked number two in Europe and had a smartphone market share of 21.5pc, according to Canalys.

Canalys reported growth in Xiaomi’s market shares in Latin America, The Middle East and Africa after reaching 11.5pc, 16.3pc and 7.3pc respectively.

Xiaomi has also maintained the number one position in smartphone shipments in India for the 16th consecutive quarter.

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