“Xiaomi Q1 2023 Financial Statement: Average Cost of Selling a Smartphone and Other Key Figures”

Xiaomi has released its financial statements for the first quarter of fiscal year 2023. Among other things, it shows the average cost of a smartphone.

Details

The turnover of the Chinese vendor in the reporting period reached 8.4 billion USD. The company reported an increase in net profit to USD 453 million (+13.1%). Smartphone sales brought Xiaomi 5 billion USD. In total, the company shipped 30.4 million units of mobile devices to customers.

The average cost of selling a smartphone increased by 2.7% to 165 USD. Thus, Xiaomi continues to be a supplier of budget products. In the global smartphone market, the company from China took third place. Its share was 11.3%. According to this indicator, Xiaomi is second only to Samsung and Apple. The MIUI audience reached 600 million people. The firmware crossed the milestone of 500 million users in 2021.