Xiaomi’s financial report for the first quarter of 2023 announces the sale of 30 million mobile phones

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In the first quarter of 2023, Xiaomi is in third place after Apple and Samsung with a market share of 11.3%.

Xiaomi announced its financial report for the first quarter of 2023, which contains promising figures for the Chinese giant. The company has had 594.8 million monthly active users between January and March 2023 and has managed to reach 600 million users by the time of this announcement.

The revenue of Xiaomi’s smartphone business has reached slightly less than 5 billion dollars and 30.4 million devices have been sold by the Chinese company. Also, the average selling price of this company’s devices is $163, which has increased by 2.7% compared to the previous quarter. The company’s total revenue is 8.43 billion dollars and its profit is 450 million dollars.

Xiaomi's financial report for the first quarter of 2023 announces the sale of 30 million mobile phones
Xiaomi’s financial report for the first quarter of 2023 announces the sale of 30 million mobile phones

Xiaomi; The third-best manufacturer in the mobile market

In the first quarter of 2023, Xiaomi is in third place after Apple and Samsung with a market share of 11.3%. The other two giants sold almost twice as many phones as Xiaomi between January and March.

Inside China, the company’s sales improved by 22.2 percent compared to the previous quarter, but Vivo managed to overtake it, with Xiaomi in fourth place. Apple has also taken first place in the domestic market of China and Oppo is the second best seller.

Xiaomi is also investing in AloT (Smart Home) devices and has managed to increase the number of connected devices to 618 million, with 12.3 million users having 5 (or more) of these devices. The income from the company’s smart home appliances, such as refrigerators and washing machines, has also increased by 60% annually. Also, 2.8 million TVs have been released by it to make Xiaomi among the top 5 companies in the smart TV market.

Another point that Xiaomi mentioned in its report is related to the reduction of greenhouse gas emissions, whose plan is to reduce 70% by 2030 and 98% by 2040.

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