Mobile

Xiaomi reports an increase of “2700%” in sales year over year

Xiaomi reports strong financial results for the second quarter of 2018. The Chinese company is one of the highest valued smartphone manufacturers out there. To put things in perspective, Xiaomi is way behind Apple or Samsung in terms of value but it is almost 3 times more valuable than LG Electronics — let it sink in for a while. Xiaomi is 3 times more valuable than the whole LG electronics.

In quarter 2 financials of 2018, Xiaomi published a sales increase of 2700% year over year in Western Europe where it only started selling its devices last November. The first European country was Spain, followed by Paris and Milan.

The official report reads that Xiaomi witnessed a 58.7% revenue growth in all business segments. It also saw 104.3% increase in revenue in IoT and lifestyle products.

Taking important bullets from the official report.

Quarter 2 Financials

  • Total revenue — an increase of 3% year-on-year
  • Gross profit — an increase of 9% year-on-year

You can check out the rest of company financials here in this report.

Headquartered in China, Xiaomi is smartphones, IoT and internet devices manufacturing company popular for dishing out low-cost Android-powered smartphones which look heavily inspired by Apple products. For the same reason, Xiaomi is often called Apple of China.

Sponsored
TechJuice

Pakistan's premier website covering everything about Technology, Startups and Entrepreneurship! Email: editors@techjuice.pk

Leave a Comment
Share
Published by
TechJuice
Tags: xiaomi

Recent Posts

Microsoft Launches AI-Powered “Support Virtual Agent” for Xbox Users

Microsoft has launched its AI-powered “Support Virtual Agent” chatbot for Xbox Insiders in the U.S.,…

8 hours ago

Musk Says Tesla Won’t Enter Smartphone Market Unless Necessary

Android Authority recently polled its users to find out if they would purchase a Tesla…

8 hours ago

Sukkur IBA Sets Seven Conditions for Conducting MDCAT

The Secretary of the Sukkur IBA Testing Agency has formally requested urgent action from the…

8 hours ago

PSEB Opens Bidding for Nationwide e-Rozgar Centers

The Pakistan Software Export Board (PSEB) has launched a nationwide program to encourage IT startups…

9 hours ago

Google Play Services Bug Disrupts Access to Apps for Pixel Users: Here’s How to Fix It

A significant issue with Google Play Services has left many Pixel users unable to access…

9 hours ago

WhatsApp Beta Partners with Google for Innovative Image Search Feature

When it comes to Android messaging apps, WhatsApp stands out as one of the best.…

10 hours ago