On November 27, 2019, Xiaomi group released the third quarter performance report of 2019,Xiaomi group's total revenue in the third quarter of 2019 was 53.7 billion yuan, up 5.5% year on year, the highest quarter of total revenue since Xiaomi was founded;The adjusted net profit was 3.5 billion yuan, up 20.3% year-on-year, much higher than the market expectation. In addition, Xiaomi's net profit in the first three quarters of 2019 totaled 9.2 billion yuan, which is higher than that of last year.
Since this year, due to the transition period from 4G to 5g, Xiaomi group has continued to adopt a sound business strategy, maintain prudent inventory management, and ensure sufficient cash flow and cash reserves.
During the reporting period, Xiaomi group's anti risk ability steadily improved,Total cash reserves reached 56.6 billion yuan。 At the same time, Xiaomi is pushing forward 5g mobile phone R & D, and the R & D investment is increasing. In the third quarter of 2019, the R & D expenditure is 2 billion yuan, up 32.5% year on year.
The number of IOT platform connection devices enabled by I broke the 200 million mark, reaching 210 million.
MIUI has 292 million monthly users worldwide.The effect of smart phone multi brand strategy is significant,Launched the first 5g mobile phone in China, Xiaomi's smartphone business ranked the top four in the world.Overseas market revenue accounted for 48.7% of the total revenue, and the market potential in Western Europe exploded, up 90.9% year on year.
Market institutions believe that Xiaomi's huge user base has huge potential. At present, Xiaomi's efficient inventory turnover rate and healthy cash flow help Xiaomi to put on the line lightly and meet the competition in the 5g era in the best condition. Xiaomi is expected to win a larger market share in the 5g mobile phone renewal cycle in 2020.
Lei Jun, chairman and CEO of Xiaomi group, said Xiaomi will make every effort to promote the research and development and promotion of 5g mobile phones, and plans to launch more than 10 5g mobile phones in 2020. Xiaomi group said that it is confident to seize the excellent market opportunity brought by the wide application of 5g technology and strive to popularize 5g technology in the shortest time.
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