Xiaomi’s second-quarter revenue increased 9.9% over the previous quarter, reaching $16.2 billion, thanks to improving smartphone quality and the growth of IoT and lifestyle products, despite rising component costs and increasingly fierce competition.
Revenue from Xiaomi’s smartphone × AIoT segment reached 12.5 billion USD.
Smartphone revenue reached $6.3 billion, while IoT and lifestyle products generated revenue of $4.7 billion, up 26.7% from the previous quarter, supported by rapid revenue growth in overseas markets.
The company’s strategy to improve the quality of smartphone products has also boosted revenue. Average selling price increased 25.9% year-on-year, reaching a record $201 (1,351 yuan), while global smartphone shipments were in the top three for 24 consecutive quarters.
Lesson: Navigator Media
