Xiaomi Bags 8.2% YoY Growth in Its Q3 2021 Report

Xiaomi Bags 8.2% YoY Growth in Its Q3 2021 Report

Xiaomi continues to grow, as the Chinese tech giant posted an 8.2% year-on-year growth based on its Q3 2021 report. Factors that contributed to Xiaomi’s steady growth includes global macro-environment and a positive market sentiment towards technology in China.

Xiaomi’s positive growth is in light of the ongoing global shortage of components that is affecting multiple industries. When it comes to its smartphones, Canalys reported that Xiaomi ranked number 1 in 11 countries and is among the top 5 brands in 59 countries globally. In Canalys’ Q3 2021 report, Xiaomi was able to ship 43.9 million phones globally, placing it in third place with 13.5% of the global market share.

Key points on its impressive performance in the smartphone segment is its segmentation strategy and announcement of new phone series like the Civi. Other highlights include sales for both Xiaomi and Redmi brands–in the Philippines, Xiaomi is the top-selling smartphone brand during the Lazada 11.11 sale.

Aside from smartphones, Xiaomi did well with its IoT and lifestyle products with a 15.5% YoY growth. In its report, Xiaomi said that its global smart TV shipments has reached 3 million with a 19.5% YoY growth, while smart appliances like the 550L Four-door Smart Refrigerator, Mini Washing Machine, and Smart Ventilated Air Conditioners are among its top-performing products in China.

Xiaomi also ramped up its offline presence as well on top of its solid online presence. Xiaomi has over 10,000 retail stores in China, while it has steadily expands its offline presence in the Philippines as well with Grimalkin and Digital Walker.

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