Chinese technology company Xiaomi announced the reports for the third quarter of 2023. It was noted in the reports that both the turnover and profitability of the company increased significantly.
Xiaomiannounced its report containing the financial results for the third quarter of 2023. According to the report, the company compared to the same period last year increase net profit by 183% He succeeded. Xiaomi’s gross profit margin is to 22.7% reached the highest level in history.
Xiaomi maintained its position among the best-selling smartphone manufacturers
In the third quarter of 2023 Xiaomi’s net profit increased by exactly 182.9% $845 million reached the level. The total turnover of the company is $9.92 billion happened as. The cash in the company’s safe was announced as 17.8 billion dollars. Xiaomi increased its R&D investments by 22% in this process, and their expenditures in this field 700 million dollars found it.
Despite a 1.1 percent decline in global smartphone sales XiaomiThere was an increase in this area both compared to the previous year and the previous quarter. The smartphone department of the Chinese manufacturer achieved a revenue increase of 13.8% compared to the previous quarter and increased its turnover to $5.8 billion took it out. Xiaomi maintained its 3rd place among the best-selling smartphone manufacturers for the 13th consecutive quarter.
Also in the consumer electronics department to the highest level in its history Xiaomi, which has managed to reach $2.8 billion made a turnover. The total number of connected devices in the company’s internet of things segment reached 699 million.
Xiaomi, smart devices and automobiles It aims to further increase its sales in the future with its new strategy that will include