Xiaomi loses 201 million in the third quarter

MADRID, 23 Nov.

Xiaomi loses 201 million in the third quarter

MADRID, 23 Nov. (EUROPA PRESS) -

The Chinese mobile phone manufacturer Xiaomi registered losses of 1,476 million yuan (201 million euros) in the third quarter of 2022, compared to the attributable net profit of 792 million yuan (108 million euros) recorded in the same period of 2021 , as can be seen from the quarterly accounts published by the company.

Xiaomi's results between July and September include an adverse impact of 2.4 billion yuan (326 million euros) due to impairment of investments in preferred shares.

The income of the Chinese manufacturer in the third quarter reached 70,474 million yuan (9,596 million euros), 9.7% less than a year earlier.

Specifically, the smartphone division had a turnover of 42,514 million yuan (5,789 million euros), 11% less, while the Internet of Things (IoT) generated 19,058 million yuan (2,595 million euros) and the services area Internet contributed 1,835 million yuan (250 million euros), 6.6% less.

The multinational highlighted that in the third quarter its income in foreign markets reached 35,600 million yuan (4,847 million euros) and represented 50.5% of the total.

In the third quarter, smartphone shipments ranked in the top three in 52 countries and regions and in the top five in 64 countries and regions, according to Canalys data, cited by the company.

"Our smartphone market share in Europe, Latin America and the Middle East increased from last year in the third quarter of 2022," the company noted.

Thus, in the first nine months of the year, Xiaomi recorded losses of 677.2 million yuan (92.2 million euros), in contrast to earnings of 16,853 million yuan (2,295 million euros) in the same period of 2021, while the manufacturer's turnover decreased by 11.8% year-on-year, to 213,996 million yuan (29,140 million euros).

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