Xiaomiannounced its report containing the financial results for the third quarter of 2023. According to the report, the company compared with the same period last year increase net profit by 183% He succeeded. Xiaomi’s gross profit margin is up to 22.7% reached the highest level in history.

Xiaomi maintained its position among the best-selling smartphone manufacturers

In the third quarter of 2023 Xiaomi’s net profit increased by exactly 182.9% $845 million reached the level. The total turnover of the company is $9.92 billion happened like. The cash in the company’s vault was reportedly $17.8 billion. Xiaomi increased its R&D investments in this process by 22%, as well as their expenditures in this area $700 million found it.

Despite a 1.1 percent decline in global smartphone sales XiaomiThere was an increase in this area compared to both the previous year and the previous quarter. The Chinese manufacturer’s smartphone division achieved a 13.8% increase in sales compared to the previous quarter and increased sales to $5.8 billion took it out. Xiaomi retained third place among the best-selling smartphone manufacturers for the 13th quarter in a row.

Also in the consumer electronics department to the highest level in its history Xiaomi, which has managed to achieve $2.8 billion turnover made. The total number of connected devices in the company’s Internet of Things segment reached 699 million.

Xiaomi, smart devices and cars It aims to further increase its sales in the future with its new strategy