Business

Xiaomi reports profitable Q3, lead by good performance in India

Xiaomi has beaten analysts estimates with its Q3 performance. The Chinese maker ended the September quarter with CNY 2.48B (312.6M) profit – a big step up from Q3 of 2017’s CNY 11B loss.

Xiaomi’s revenue in Q3 of 2018 rose 49.1% to CNY 50.85B (6.4B).

Xiaomi’s positive quarter was spearheaded by the maker’s top-notch performance in the Indian market, where it was leading the smartphone sales.

Xiaomi has set itself up for success by expanding its market presence in Europe by entering the United Kingdom but analysts don’t expect its profits to expand until it manages to boost its flagship sales. Currently Xiaomi ships phones with smaller price margins, which yield great market share but not as great profit.

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