Total revenue reached RMB 78.1 billion, up 8.2% year-on-year; adjusted net profit reached RMB 5.2 billion, up 25.4% year-on-year. "The core strategy of Mobile x AIoT has achieved significant results globally, with solid growth across all businesses and continued improvement in profitability.
In the first three quarters of 2021, Xiaomi's cumulative R&D expenditures amounted to RMB9.3 billion, an increase of 51.4% year-on-year; the number of Xiaomi's R&D staff reached 13,919 as of September 30, 2021, accounting for more than 44% of its total workforce.
Smartphones more diversified
Steady progress into high-end market
In Q3 2021,
Xiaomi's smartphone revenue was CNY47.8 billion, and 43.9 million smartphones were shipped globally.
In the first three quarters of 2021, Xiaomi shipped nearly 18 million units of its high-end flagship phones priced at 3,000 yuan or more in mainland China and 300 euros or more outside of China, accounting for more than 12 percent of the total, which is already far more than last year's full-year 10 million units.
Within that, Xiaomi's shipments of smartphones priced at 300 euros and above outside China grew by more than 180.0 percent year-on-year.
Meanwhile, Xiaomi is actively expanding its channel layout, and the amount of Xiaomi's omni-channel payments during this year's Double 11 shopping festival broke RMB 19.3 billion.
As of October 30, 2021, the number of Xiaomi's offline retail stores exceeded 10,000
Xiaomi TV steadily ranked No. 1 in China
In the third quarter of 2021, Xiaomi's loT and Consumer Lifestyle revenue was RMB20.9 billion, and offshore IoT revenue continued to improve and reached a record high.
Xiaomi's smart TV business continued to maintain its industry-leading position, ranking No. 1 in China and top 5 globally.
Meanwhile, Xiaomi focuses on expanding the high-end category of smart home appliances, and during this year's Double 11 shopping festival, Xiaomi's home appliances across the board ranked third in cumulative sales in Jingdong's home appliances peak day racing list. Xiaomi excels in the field of smart device wearable products. According to Canalys data, in 2021 Q3, Xiaomi wearable wristbands ranked second in global market share.
MIUI Monthly Active Users Surpass 500 Million
Internet Performance Greatly Exceeds Expectations
In Q3 2021, Xiaomi's internet business grew strongly, with revenues of CNY7.3 billion, a year-on-year increase of 27.1%, hitting a new single-quarter record high.
As of November 22, 2021, global MIUI 30-day active users exceeded 500 million. year-to-date in 2021, global MIUI added about 100 million new monthly active users, and domestic monthly active users grew by 18.65 million.
Meanwhile, advertising revenue hit a single-quarter record high of RMB 4.8 billion in the quarter, a year-on-year increase of 44.7%, and seven consecutive quarters of year-on-year growth. And Xiaomi's offshore internet service revenue reached RMB1.5 billion, surging 110.0% year-on-year and accounting for 19.9% of overall internet service revenue.
Deepening channel construction
Efficient operation empowers offshore business
In the third quarter of 2021,
Revenue from Xiaomi's offshore market amounted to RMB40.9 billion, accounting for 52.4% of total revenue.
According to Canalys, Xiaomi ranked in the top five in terms of market share in 59 countries and regions around the world in the third quarter, and ranked No. 1 in the smartphone market in 11 countries and regions; in the offshore carrier channels except India in the quarter,
Xiaomi shipped more than 6.8 million units of smartphones, an increase of more than 130% year-on-year.
Smartphone market share in Europe reached 21.5%. In addition, in Western Europe, Xiaomi's market share reached 17.0%, with shipments ranking in the top three; in Latin America, the Middle East and Africa market share reached 11.5%, 16.3% and 7.3% respectively.
AIoT Multi-Scenario Layout
Number of Connected Devices Surpassed 400 Million
As of September 30, 2021,
the number of connected devices on Xiaomi's AIoT platform exceeded 400 million for the first time, a year-on-year increase of 33.1%;
the number of users who have five or more devices connected to Xiaomi's AIoT platform was 8 million, a year-on-year increase of 42.8%.
In September 2021, the number of monthly active users of Mi Home App increased by 39.0% year-on-year to 59.9 million. Xiaoxia's monthly active users reached 105 million, up 34.1% year-on-year.
Based on its core strategy of cell phone x AIoT, Xiaomi's businesses have maintained steady growth. In the future, Xiaomi will continue to maintain high R&D investment as well as high-end, new retail strategy determination and sustained patience, and continue to bring surprises and transformation to users.
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