In the third quarter of 2021, Xiaomi’s total revenue amounted to RMB78.1 billion, representing an increase of 8.2% year-over-year, adjusted net profit for the period was RMB5.2 billion, an increase of 25.4% year-over-year.
Xiaomi’s revenue from overseas markets reached RMB40.9 billion during the third quarter of 2021, accounting for 52.4% of total revenue.
In Q3 2021, Xiaomi’s long-term investments measured at fair value through profit or loss in the current period have generated unrealized financial losses, which have had a substantial impact on Xiaomi’s net profit.
Meanwhile, Xiaomi global MIUI 30-day active users has exceeded 500 million as of 22 November 2021, marking another milestone for Xiaomi’s “Smartphone x AIoT” strategy.
In September 2021, the MAU of MIUI increased 32.0% year-over-year to 485.9 million, among which the number of MAU in Mainland China rose to 127.3 million, a year-over-year increase of 16.4% and a net gain for the fourth consecutive quarter.
In September 2021, MAU of Xiaomi’s global smart TV and Xiaomi Box expanded over 33.0% year-over-year. As of September 30, 2021, the Group’s number of TV paid subscribers was 4.7 million, a 13.5% increase on a year-over-year basis.
According to Canalys, Xiaomi’s market share of smartphone shipments in the third quarter ranked No. 1 in 11 countries and regions and among the top five in 59 countries and regions globally.
Xiaomi ranked No. 2 in Europe with a smartphone market share of 21.5%. In Western Europe, Xiaomi smartphone market share reached 17.0% and ranked among the top three in terms of shipments; in Central and Eastern Europe, Xiaomi ranked No.2 with 28.7% smartphone shipment market share.
In Q3, Xiaomi sold over 6.8 million smartphones through carrier channels in overseas markets excluding India, representing an increase of over 130% year-over-year. According to Canalys, Xiaomi smartphone market share in Western Europe carrier channels increased from 4.6% in the third quarter of 2020 to 13.0% in the third quarter of 2021.
Xiaomi market shares in Latin America, the Middle East and Africa reached 11.5%, 16.3% and 7.3%, respectively. In addition, Xiaomi has maintained No. 1 position in smartphone shipments in India for the 16th consecutive quarter.
In Q3, Xiaomi’s profitability continued to strengthen as internet services revenue reached RMB7.3 billion, reaching a new quarterly high, representing an increase of 27.1% year-over-year. The gross profit margin of the internet services segment was 73.6%, 13.1 percentage points higher than the same period of last year.
Xiaomi’s advertising revenue reached RMB4.8 billion, up 44.7% year-over-year, primarily due to expanding user base, higher percentage of premium smartphone users and stronger monetization capabilities.
Xiaomi’s gaming revenue reached RMB1.0 billion, increasing 25.0% year-over-year due to the strong performance of high-quality new games and higher gaming average revenue per user (“ARPU”) driven by premium and gaming smartphones.
Xiaomi IoT and lifestyle products segment revenue was RMB20.9 billion during the third quarter of 2021, increasing 15.5% year-over-year.
Xiaomi’s revenue from other value-added services amounted to RMB1.6 billion in the third quarter. In the second quarter of this year, Xiaomi’s Youpin ecommerce platform rolled out its new consumer brand, Life Element, which offers a wide range of high-quality day-to-day products at competitive prices. Most recently, in November 2021, Youpin also launched its UP paying membership system to consistently improve the online shopping experience of its users.
The total number of Xiaomi’s retail stores in mainland China surpassed 10,000. Xiaomi expects the further growth in lower-tier market penetration will allow the Group to serve more users in mainland China.
Introduction to Xiaomi e-commerce platform Youpin