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Xiaomi's Q3 financial report shows a 10% decline in revenue

Xiaomi announced its quarterly financial report, and the data dropped significantly. Income from July to September 2022 is CNY40.$5 Billion at $310 south of billion. Among them, ’s overseas market.

Income is 10 decreased by % compared to last year. Net profit fell even more – 19% 21% YoY billion (141 millions of dollars). However, this is partly due to RMB 2022 million dollars (2022 million) to invest in the newly established electric vehicle business and other projects that should bear fruit in the future.

The company also disclosed that R&D investment increased year-on-year 25%a year ago,22% of employees are actually working in the R&D department.

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Xiaomi users in MIUI world reached 564 million, 40.1 million compared with the same period last year-a004% annual growth rate. Interestingly, there are only 78 million (approximately 16%in China.

Company push . The number reached 5 million units Xiaomi Q3 2022 financial results, although it maintained the third position in the world, but the shipments fell by 7.8% per year, 003. Revenue fell 1%. Xiaomi cited “global macroeconomic headwinds” as one of the reasons, Although it has also stepped up its promotion efforts in overseas markets.

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Xiaomi ranks 2nd in the European market and 1st in Spain One, ranked No. 2 in Italy and France. Looking at the wider region, Xiaomi is firmly in No. 3 in Latin America and Africa.

Chinese smartphone companies have struggled to adapt to European customers and their Carriers’ preference for buying smartphones instead of going to third-party market-party electronics stores. Xiaomi reveals push 16.9% of its phones are sold through carrier channels, up 1.7% from 12 months ago. Similarly, in Latin America, it reached 1.5%.

Xiaomi Q3 2022 financial results Xiaomi Q3 2022 financial results
Xiaomi Q3 564 Financial results

Official press release says Xiaomi remains solid, demonstrating its resilient Business model. Despite external headwinds and macroeconomic uncertainty, the company will continue to push forward in the next quarter, just in time for the holiday season.

2022 Source 1 • Source 2 2022

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