Capable Of Pressing Component Costs, Xiaomi’s Revenue In The Third Quarter Increases

Xiaomi's net income in the third quarter increased (photo: dock. Xiaomi)

JAKARTA - Xiaomi, a Chinese electronics company, succeeded in increasing net income in the third quarter of this year. In fact, this surge in revenue exceeded analysts' estimates.

According to a report by Reuters, the company's sales for the third quarter reached 9.83 billion US dollars (IDR 150 trillion). This revenue exceeded analysts' estimates of only 9.79 billion dollars (IDR 149 trillion).

With this number of sales, Xiaomi's net income jumped by 183 percent from the previous year. According to Xioami, this increase of IDR 12 trillion occurred thanks to lower component costs and efficiency.

"Even though we didn't face many positive external factors, the achievements we were still able to achieve show improvements in our overall capabilities," said Xiaomi President Lu Weibing.

In line with their total sales, Xiaomi is indeed leading in the domestic market. They distributed more than 9.1 million devices during the third quarter according to data from research firm Canalys.

This number only changed slightly from the previous year, but sales remained superior as Xiaomi managed to outpace its competitors. What's more, overall industrial sales in China are still down by 5 percent year on year.

With this increased net revenue, Xiaomi shows that the smartphone market in China is starting to recover. Xiaomi is also recorded as having sold more than 1 million units of its newest cellphone in just a week after launch.