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[Weekly News] [Xiaomi Weekly #35] Xiaomi’s Adjusted Net Profit Increased 20.3% In Q3, Forbes Leadership Awards!

2019-12-01 20:57:38
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Hello Mi Fans,

We are here with the weekly round-up - Xiaomi Weekly which features News from Xiaomi Global and important highlights which you can't afford to miss. Our team covers latest news about Xiaomi from around the world. Our team tries to bring in all the latest information to the readers at the earliest. Here are the major news from Xiaomi last week.

Headlines :
1. Xiaomi’s Adjusted Net Profit Increased 20.3% In Q3, Total Revenue Hits Record High Since Founding!
2. Gross Profit margin of just 8-9% makes Mi phones so competitive - Lei Jun!
3. Xiaomi Touches $5-billion Revenue Milestone in India in 2018-19!
4. Forbes India Leadership Awards 2019: Best CEO - MNC: Xiaomi's Manu Kumar Jain!

Bulletin:

1. Xiaomi’s Adjusted Net Profit Increased 20.3% In Q3, Total Revenue Hits Record High Since Founding!

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 its unaudited consolidated results for the third quarter of 2019 ended September 30, 2019 (“3Q2019” or “the Period”). During the Period, the Group’s total revenue increased by 5.5% year-on-year (“YoY”) to RMB53.7 billion, making 3Q2019 the quarter with the highest total revenue since founding. Adjusted net profit was RMB3.5 billion, increased by 20.3% YoY. The Group’s total adjusted net profit in the first three quarters totaled RMB9.2 billion, already exceeded the net profit of last year.


During the Period, the Group continued to operate prudently with its risk resistance capacity steadily improved and gross profit significantly optimized. Gross profit increased by 25.2% YoY to RMB8.2 billion. Gross profit margin was 15.3%. Total cash resources amounted to RMB56.6 billion.

Read more from the Thread by Vincent Khoo - (News Smod)


2. Gross Profit margin of just 8-9% makes Mi phones so competitive - Lei Jun!

Today, while announcing the third quarter financial results of this year, Xiaomi CEO Lei Jun explained why the company’s smartphones are cost-effective. He says that the company has a gross profit margin of just 8 percent to 9 percent, which makes the company’s devices cost-effective.


He believes that the costing of the smartphones will get more outrageous and the devices will become expensive as the industry is moving towards 5G technology. However, he adds that compared to others, Xiaomi’s price-performance ratio will be better.

Read more from the Thread by Crossfiree - (News Smod)


3. Xiaomi Touches $5-billion Revenue Milestone in India in 2018-19!

Xiaomi continued its high pace of growth in the Indian market in 2018-19, where it is the largest smartphone maker by sales volume, touching the $5-billion revenue mark. As per Xiaomi Technology India’s latest regulatory filings with the Registrar of Companies (RoC), the company’s total revenue in 2018-19 grew by 54% to Rs 35,426.92 crore as compared to Rs 23,061.11 crore it had clocked in FY18.


Xiaomi continued its high pace of growth in the Indian market in 2018-19, where it is the largest smartphone maker by sales volume, touching the $5-billion revenue mark. As per Xiaomi Technology India’s latest regulatory filings with the Registrar of Companies (RoC), the company’s total revenue in 2018-19 grew by 54% to Rs 35,426.92 crore as compared to Rs 23,061.11 crore it had clocked in FY18.

Read more from the Thread by Crossfiree - (News Smod)


4. Forbes India Leadership Awards 2019: Best CEO - MNC: Xiaomi's Manu Kumar Jain!

A strong streak of success, at times, can have a delusional impact. Manu Jain realised this three years ago. From a meagre 1.6 percent market share in smartphones in 2014, Xiaomi had become the second biggest brand in India by early 2017. For an online-only brand, cornering a 13 percent share and running hot on the trail of South Korean Goliath Samsung was no mean feat. Whatever Jain was doing was turning into gold.


Emboldened, Jain reckoned it was time to raise the stakes by taking Xiaomi offline. While Mi Preferred Partner stores—multi-brand retail stores that sell Xiaomi products on priority—were started in March 2017, Xiaomi rolled out Mi Homes two months later in Bengaluru. Mi Homes are exclusive retail stores owned by franchisees and operated by Xiaomi. By the end of the year, the numbers pole-vaulted to 500 Preferred Mi Partner Stores and 10 Mi Homes. Success, as it turned out, was still elusive. “For one year, we struggled with our offline strategy,” recalls Jain, global vice president of Xiaomi, and managing director of Xiaomi India. The magic of Xiaomi as an online brand, he recounts, couldn’t be replicated offline. “It was a disaster. Nothing turned into gold.”

Read more from the Thread by Crossfiree - (News Smod)


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Thanks to Admin Elaine2046 and SMod vincent_khoo for Continuous Support!
Thanks to all those who have put efforts in covering the aforementioned News!


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2019-12-01 20:57:38
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Xiaomi Weekly
Xiaomi Weekly which features News from Xiaomi Global and important highlights which you can't afford to miss.
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Thanks for the news
2019-12-01 21:04:53

Pro Bunny

broju | from app

#2

congrats
2019-12-01 21:08:45

News Reporter

Subrata Maity | from Redmi 3S

#3

Thanks for sharing with us.
2019-12-01 21:09:36

Pro Bunny

SriramSrikrishna | from Redmi Note 4

#4

Congratulations Xiaomi
2019-12-01 21:12:23

Master Bunny

Narayanan Iyengar | from Redmi Note 5A

#5

Thanks for your information
2019-12-01 21:26:31

News Reporter

ᎮᏒᎥᏁፈᏋ | from Redmi Note 4X

#6

Awesome ♥️
2019-12-01 21:34:34
Tech Explorer

Master Bunny

myrichgoh | from MI 8

#7

Congratulations to Xiaomi and your entire team members. May you excel further in coming years...
2019-12-01 22:47:32

Feedback Team

SIVARAMAN N | from Redmi Note 7 Pro

#8

Voted thanks for all in one
2019-12-01 22:48:22

Rookie Bunny

Zaman | from Mi A3

#9

good

2019-12-01 22:51:02
Thanks for sharing
2019-12-01 23:00:23
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