Xiaomi reports sales data for Q1 2023 and surpasses 600 million active users

Xiaomi has recently shared the results of its first quarter of 2023. During this announcement, the company has also shared some intriguing figures. It states that around 30.4 million units of smartphones were sold during Q1 2023. Given this, the company has earned CNY35 billion (almost $5 billion) in revenue. An ASP of CNY1,152 ($163) is reported that is seemingly 2.7 percent more than the same quarter last year.

During Q1 2023, the company had 594.8 million monthly active users. however, the company has crossed 600 million active users by the time this announcement was made. In the market share, Xiaomi has secured the third rank. Its sales account for 11.3% of the market. It’s important to note that over the same time period, Apple and Samsung shipped approximately twice as many phones as Xiaomi.

Xiaomi’s Performance in China

Eth company performed well in its hometown as well. The company has observed an improvement of 2.2% QoQ (Quarter-over-Quarter) given the current sales of smartphones. In China, Apple secured the first spot, OPPO ranked second, Vivo was in third place, whereas Xiaomi grabbed the fourth rank.

Besides the smartphone sales, the company has also declared its total revenue for the first quarter of the current year. Reportedly, the company earned CNY59.5 billion ($8.43 billion) in total. On the other hand, the adjusted net profit was CNY3.2 billion ($450 million). If the costs associated with the smart EV business are included, the total falls to CNY1.1 billion ($150 million).

Xiaomi is famous for its AIoT devices. As per recent pieces of information, the company has introduced 618 million such devices. Among its users, 12.3 million users have five or more AIoT devices. Notably, the company has introduced several such devices in the market. These devices range from smart air conditioners to smart TVs.