Impressive 32 million smartphones shipped by Xiaomi in Q2 2018
With the Q2 2018 results coming in from a number of companies, we can form a more or less coherent image of the financial situation for the three months in question. Xiaomi was the most recent to report its profits, which amounted to $2.1 billion, and the number is significant, since it marks the company’s first quarter after going public. 32 million smartphones that the company managed to ship out in April-June 2018 brought it CNY30.5 billion, or $4.5 billion.
Smartphones made up ⅔ of the company’s revenue, with over CNY10 billion associated with the smart product range - from fitness bracelets and smart TVs, and everything above and beyond. CNY14.6 billion (or $2.1 billion) is the net profit figure for Q2 2018, however, Xiaomi reported a CNY7.6 billion operating loss related to the costs of launching the recent IPO on the HKSE.
The company has done amazingly well internationally, with 36% of the revenue currently coming from the international market. The 151% annual global growth revealed by the report demonstrates strong potential for further development. While mostly customers from India are responsible for the current surge, Xiaomi also reports positive developments in Europe and Indonesia.
The Pocophone F1, which has been launched very recently and is slated to become a real monster on the market, may, in fact, contribute to a further increase in sales revenue. The phone is the most affordable flagship powered by Snapdragon 845 and looks very promising.Source