Lei Jun is on fire again! Xiaomis third quarter report exceeded expectations, and its mobile phone market share exceeded Apples

 Lei Jun is on fire again! Xiaomis third quarter report exceeded expectations, and its mobile phone market share exceeded Apples

Net profit of revenue reached a record high in a single quarter

On the evening of November 24, Xiaomi group disclosed its three quarterly reports. According to the financial report, in the third quarter of 2020, the total revenue of Xiaomi group reached 72.2 billion yuan, a year-on-year increase of 34.5%. After adjustment, the net profit reached 4.1 billion yuan, up 18.9% year on year. Total revenue and adjusted net profit reached a record high in a single quarter.

Xiaomis significant growth in mobile phone shipment in the third quarter benefited from the sharp increase in overseas market revenue. According to the Q3 financial report in 2020, the overseas market revenue of Xiaomi reached 39.8 billion yuan, an increase of 52.1% over the same period of last year. The two major indicators of overseas market income and its contribution to the total revenue both reached a record high.

Xiaomi has made steady progress in internationalization, especially in Europe. In the third quarter, the global shipment of Xiaomi smart phones was 46.6 million, with revenue of 47.6 billion yuan, a year-on-year increase of 47.5%, and the market share also reached 13.5%. Its shipment volume in the European smartphone market remained the third for two consecutive quarters, and Western Europes smartphone shipment volume entered the top three for the first time.

In the domestic market, Xiaomi also increased both in quantity and price. The shipment of smart phones increased by 18.9% year-on-year, making it the only company with positive growth among the top five mobile phone manufacturers. Its domestic market share rose to 12.6% from 9% in the same period last year, and it is the only leading enterprise to achieve year-on-year growth.

High end mobile phone sales continued to increase, accounting for 14% of the sales volume of smart phones in the mainland.

In addition, the income of Xiaomi IOT and consumer products reached 18.1 billion yuan, up 16.1% year-on-year. As of September 30, 2020, the number of devices connected to Xiaomi aiot platform has reached 289 million, with a year-on-year increase of 35.8%;

It is worth mentioning that the third quarter of the smart TV has shipped 3 million 100 thousand units, ranking the first in Chinese mainland for 7 consecutive quarters and ranking the top five in the world.

In terms of users, Xiaomis Internet service users continued to grow rapidly in the third quarter. In September this year, the number of monthly live users of MIUI increased by 26.3% to 368.2 million, and the monthly live users of smart TV and millet box increased by 49.9% to 35.8 million. By the end of the third quarter, Xiaomi TV had 4.2 million subscribers, up 28.2% year on year.

Millet market share overtakes apple

The global mobile phone market is also facing a new round of reshuffle under the influence of multiple factors such as the spread of the global new crown epidemic and the upgrading of trade friction. Recently, the third quarter global smartphone market sales data, apple fell out of the worlds top three, and millet became the biggest black horse this year.

According to the latest data released by market research company counterpoint research, the global smartphone shipment in the third quarter of this year and the third quarter of 2020 was 353.6 million, a year-on-year decrease of 1.3%.

According to the data, Samsung regained the top spot, while Huawei fell the most, while Xiaomi surpassed apple to occupy the third place in the global smartphone market share, which was the first time that apple fell out of the top three since it joined the list.

Source: counterpoint research

Compared with Xiaomi, the former overlord apple fell out of the top three for the first time, accounting for 11% of the market share with 41.7 million units, a year-on-year decrease of 7%, which is the largest decline among the four major brands except Huawei.

Share prices have risen more than 151% this year

For millet to become the black horse in the global mobile phone market, the market response is enthusiastic. On November 23, the share price of Xiaomi group stood at HK $28, a record high, and its total market value exceeded HK $670 billion. So far this year, the share price has risen by more than 151%. From the lowest point of HK $9.2 in March, it increased by nearly 170%.

So far, according to Forbes 2020 global rich list (real-time), Lei Jun ranks 76th, worth 19.4 billion US dollars.

Previously, Lei Jun, the founder of Xiaomi, specifically mentioned at the annual meeting of the 2020 Yabuli forum that there are three major misunderstandings about Xiaomi, including that Xiaomi products are medium and low-end products, Xiaomis products are OEM and OEM, and Xiaomi has no technology. Lei Jun said, after ten years of work, everyone thinks that Xiaomi is still in the middle and low end, and I am very depressed. Therefore, Xiaomi focuses on developing medium and high-end product lines this year. Lei Jun also demonstrated Xiaomis planned 100% unmanned factory to the outside world to prove Xiaomis technical strength.

Source: Chen Hequn, editor in charge of China fund daily_ NB12679