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Xiaomi Locks In 152% Growth For Q2 With India Playing A Major Role

| Published on August 24, 2018

Xiaomi has been one of the most successful Chinese Mobile brands in India and its always seen an upward growth chart. This year also Xiaomi has reported an approx. 152% revenue from its international business and it has been majorly because of a very strong market in India.

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Also Read: Honor Exchanged Old Xiaomi Phones For So High Rates. Was It A Strategy To Replace Xiaomi?

The Numbers

“According to (research agency) Canalys, our smartphones continued to experience rapid growth in the Indian market and ranked first in terms of market share by shipments in the second quarter of 2018,” Xiaomi said in an official statement Wednesday.

Further, the makers of the mobile phones, said “its offline smartphone sales in India achieved a market share of over 20 percent, and ranked No 1 in eight cities, according to GFK,” in the second quarter of 2018.

After reporting a global net loss of 11.97 billion yuan, this year they have registered a net profit of 14.63 billion yuan, which for sure is a remarkable growth and achievement. Total revenue for this quarter exceeded by 68% this year with 45.24 billion yuan as compared to 26.88 billion yuan last year.

Xiaomi, however, said “its cost of sales relating to the smartphones segment” jumped 62.2 percent on-year to 28.5 billion yuan in the quarter to June, primarily due to “increased smartphone sales and appreciation of the US dollar against the RMB and the Indian rupee”.

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Market Share

Xiaomi also claims to have built a considerable market share in the smart TV segment in India after its launch in February and has out down Samsung in the mobile segment this quarter. Though the differences are marginal, Xiaomi has beaten the Korean player with a 30.4% market share in India as to Samsung’s 30.2% in this period of April-June 2018.

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With other launches in the pipeline, Xiaomi seems all set to increase its market share in India. What is your opinion, do you use a Xiaomi phone?

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