Successfully Achieving Full-Year Target Ahead of Schedule
BEIJING and HONG KONG, Oct. 25, 2018 /PRNewswire/ -- Xiaomi Corporation ("Xiaomi" or the "Group"; Stock Code: 1810), an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, today announced that the Group expects its shipment of smartphones to exceed 100 million units by the end of October, successfully reaching the full-year target set at its global core suppliers conference on 13 September, 2017. The Group will reach the target two months ahead of schedule and it exceeds the unit shipment of 90 million in 2017. Moreover, Xiaomi today officially launched its latest premium flagship product, Mi MIX 3 at the Forbidden City in Beijing, demonstrating the outstanding product innovation capabilities of the Group.
Commenting on this achievement, Mr. Lei Jun, Founder, Chairman and CEO of Xiaomi, said: "Successfully reaching the full-year target ahead of schedule and with the shipments this year exceeding 100 million units signals a key milestone in Xiaomi's history. It is also a result of Xiaomi's continuous technological innovation and quality improvement over the past few years."
Effective optimization of product structure; continuous expansion in overseas markets
As the world's fourth-largest smartphone manufacturer according to IDC, Xiaomi's smartphone shipments continued to grow rapidly. In the second quarter of 2018, Xiaomi's smartphones segment recorded revenue of approximately RMB30.50 billion, representing year-on-year growth of 58.7%. Shipments of the Mi 8 series exceeded 6 million units in the 4 months after its launch, showing the positive outcomes of the product structure optimization of Xiaomi's smartphones.
In overseas markets, Xiaomi has expanded to over 70 countries and regions with its smartphone business ranking among the top five in 25 countries and regions. In the second quarter of 2018, revenues from the overseas market grew 151.7% year-on-year to RMB16,412 million, accounting for 36.3% of its total revenue. According to Canalys, Xiaomi's smartphone shipments continued to grow at a rapid rate in India, ranking first in terms of market share by shipment. Recording impressive growth, Xiaomi also ranked second in Indonesia in terms of smartphone shipments. In Western Europe, Xiaomi expanded into France and Italy in May 2018. Smartphone shipments in Western Europe grew over 2700% year-on-year.
While the smartphone business enjoys a stable expansion, the revenue of Xiaomi's IoT and lifestyle product segment doubled to RMB10.38 billion in the second quarter of 2018, representing a year-on-year increase of 104.3%. The smart TV business segment grew 350% year-on-year and became the number one TV brand in mainland China in the second quarter of 2018.
Pursues quality and innovation, unveils its latest premium flagship product today at the renowned Forbidden City
Two years ago, Xiaomi's Mi MIX Series led the smartphone industry into the era of full-screen display. Today, Xiaomi unveiled its latest premium flagship product, Mi MIX 3, at the renowned Forbidden City (also known as the Palace Museum), one of China's most important historical landmarks. As the newest device in Xiaomi's award-winning Mi MIX series, Mi MIX 3 once again merges technology and art, sporting a beautiful ceramic back that comes in three colors, and an innovative magnetic slider.
In addition to an unprecedented full-screen display experience, Mi MIX 3 features a camera setup that achieved a DxOMark photo score of 108, a four-sided curved ceramic back panel in a new Sapphire Blue variant, and up to 10GB RAM.