Today, Monday, the giant Chinese technology company Xiaomi Corp. revealed the results of its quarterly business during the third quarter of this year ending last September, as Xiaomi was able to achieve quarterly profits for the first time in six quarters, according to what was reported by the British Bloomberg Agency.
During the quarter ending last September, Xiaomi’s sales amounted to about 70.9 billion Chinese yuan (about 9.9 billion dollars), which exceeded analysts’ expectations that the sales volume would reach 70.5 billion yuan. The data also showed that net income rose to 4.9 billion yuan, higher than expectations that expected net income to grow to 4.3 billion yuan on average, up from a net loss of 1.5 billion yuan ($209 million) in the same period last year.
Commenting on the strong quarterly business results, Xiaomi explained that the number of active users worldwide had risen to a record level in the third quarter, amounting to 623.1 million users, an annual increase of 10.5%, adding that various sectors had been developed and improved while improving operational efficiency at a rapid pace. Continued, in light of the limited signs of improvement shown by the external environment in China.
It should be noted that the positive quarterly business report came after Xiaomi suffered from a decline in global demand for smart phones and other electronics, as well as some competitors controlling its position in the market, especially Apple and Oppo.
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