Xiaomi reports 49.1% YoY increase in revenue in Q3 2018, smartphone revenue up 36.1% YoY

Xiaomi this week reported its earning for the second quarter (Q3 2018) that ended September 30, 2018. It reported revenue of 50.846 billion yuan (US$($7.3 billion), an increase of 49.1% year-on-year, among which international revenue grew 112.7% year-on-year to 22.3 billion yuan, accounting for 43.9% of total revenue. Net profit for the third quarter was 2.481 billion yuan ($357 million) for the quarter. Adjusted profit (Non-IFRS Measure) increased was 2.885 billion yuan, up 17.3% YoY and up 36.3% QoQ. International revenue grew 112.7% year-on-year, contributing to a higher percentage of total revenue. Smartphones segment recorded revenue of approximately RMB35.0 billion, representing an increase of 36.1% year-on-year, which was mainly driven by increases in both smartphone sales volume and the average selling price (“ASP”). 33.3 million smartphones shipped in Q3 2018, up 20.4% YoY As of October 9, 2018, flagship Mi 8 series shipped over 6 million units As of October 26, 2018, Xiaomi’s smartphone shipments exceeded 100 million units, successfully achieving full-year target more than two months ahead of schedule. Monthly active users (“MAU”) of MIUI increased 43.4% from 156.5 million in September 2017 to 224.4 million in September 2018. The average revenue per MIUI user (“ARPU”) for the quarter under review increased by ...