Xiaomi, which continues its activities actively in our country, is a brand that operates in many areas, especially smartphones. The Chinese company recently announced its third quarter 2023 results. So how much profit did the company make? Here are the details!
How much profit did Xiaomi make? – Xiaomi third quarter results
Xiaomi, 2023 year third quarter resultsHe explained. The adjusted net profit of the Chinese brand increased by 182.9 percent for $845 million reached. On the other hand, the company total revenues whereas to $9.92 billion rose.
In the third quarter of 2023, a slight decrease of 1.1 percent was recorded in phone sales worldwide compared to the same period in the previous year. Despite this decrease, Xiaomi’s sales grew both compared to the previous year and the previous quarter. Worldwide smartphone sales reached 41.8 million units, the highest level in the last six quarters.
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During this period, Xiaomi’s smartphone business achieved a 13.8 percent increase in revenue compared to the previous quarter and reached 5.8 billion dollars. Gross profit margin increased by 7.7 points compared to the previous year and reached a record level of 16.6 percent.
According to Canalys, Xiaomi was the only brand among the top three to record year-on-year sales growth in the quarter. The company, which has a market share of 14.1 percent in the industry, maintained its ranking as the third company selling the most smartphones worldwide for 13 consecutive quarters.
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