Xiaomi Reports Steady Revenue And Profit Growth in 2021 Q3

Internet services revenue reaching new quarterly high with strengthening profitability

Steady user growth with Xiaomi global MIUI 30-day active users exceeding 500 million

Beijing, Hong Kong, November 23, 2021 — Xiaomi Corporation (“Xiaomi” or the “Group”; stock code:1810), a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, announced its unaudited consolidated results for the three and six months ended September 30, 2021.

In the third quarter of 2021, Xiaomi’s total revenue amounted to RMB78.1 billion, representing an increase of 8.2% year-over-year, adjusted net profit for the period was RMB5.2 billion, an increase of 25.4% year-over-year. Impacted by global macro-environment as well as market sentiment towards technology sector in China in the third quarter, Xiaomi’s long-term investments measured at fair value through profit or loss in the current period have generated unrealized financial losses, which have had a substantial impact on Xiaomi’s net profit. Nonetheless, Xiaomi’s core business profitability maintained steady growth. Xiaomi showcased excellent business model and operation with total revenue and adjusted net profit both maintained solid growths.

Meanwhile, Xiaomi global MIUI 30-day active users has exceeded 500 million as of 22 November, 2021, marking another milestone for Xiaomi’s “Smartphone x AIoT” strategy.

Q3 2021 financial highlights:

  • Total revenue at RMB78.06 billion, up 8.2% YoY;
  • Gross profit at approximately RMB14.29 billion, up 40.6% YoY;
  • Non-IFRS adjusted net profit was RMB5.18 billion, up 25.4% YoY.

Xiaomi Corporation said, “During the third quarter of 2021, we continue to strengthen our core ’Smartphone × AIoT’ strategy and advance in the premium smartphone market. We ranked 1st in terms of smartphone shipments in 11 countries and regions. We continued to explore and innovate in product and technology to further enhanced our competitiveness in the premium market. Our internet services revenue reached new quarterly high and we remain committed to investing in research and development that underpins our products’ core competitiveness.” As of 22 November, 2021, Xiaomi’s global MIUI 30-day active users exceeded 500 million, marking another milestone for the “Smartphone x AIoT” strategy.

Quarterly Performance Review

Internet services revenue reaching new quarterly high

In the third quarter, Xiaomi’s profitability continued to strengthen as internet services revenue reached RMB7.3 billion, reaching a new quarterly high, representing an increase of 27.1% year-over-year. The gross profit margin of the internet services segment was 73.6%, 13.1 percentage points higher than the same period of last year.

Meanwhile, the Group’s global internet user base continued to expand rapidly in the third quarter. As of November 22, 2021, global MIUI 30-day active users exceeded 500 million for the first time, marking another milestone for Xiaomi’s global expansion. In September 2021, the MAU of MIUI increased 32.0% year-over-year to 485.9 million, among which the number of MAU in Mainland China rose to 127.3 million, a year-over-year increase of 16.4% and a net gain for the fourth consecutive quarter. In September 2021, MAU of Xiaomi’s global smart TV and Xiaomi Box expanded over 33.0% year-over-year. As of September 30, 2021, the Group’s number of TV paid subscribers was 4.7 million, a 13.5% increase on a year-over-year basis.

In the third quarter of 2021, Xiaomi’s advertising revenue reached RMB4.8 billion, up 44.7% year-over-year, primarily due to expanding user base, higher percentage of premium smartphone users and stronger monetization capabilities. Xiaomi’s gaming revenue reached RMB1.0 billion, increasing 25.0% year-over-year due to the strong performance of high-quality new games and higher gaming average revenue per user (“ARPU”) driven by premium and gaming smartphones. Xiaomi’s revenue from other value-added services amounted to RMB1.6 billion in the third quarter. In the second quarter of this year, Xiaomi’s Youpin ecommerce platform rolled out its new consumer brand, Life Element, which offers a wide range of high-quality day-to-day products at competitive prices. Most recently, in November 2021, Youpin also launched its UP paying membership system to consistently improve the online shopping experience of its users.

In the third quarter of 2021, Xiaomi’s overseas internet services revenue increased by 110.0% year-over-year to RMB1.5 billion, accounting for 19.9% of total internet services revenue, setting another quarterly record. Going forward, we will continue to expand and deepen collaborations with the Group’s global business partners and actively explore new internet service offerings in the overseas markets.

Xiaomi remains committed to investing in research and development, which boosts its products’ core competitiveness. In the first three quarters of 2021, the Group’s cumulative research and development expenditures reached RMB9.3 billion, representing an increase of 51.4% year-over-year. In September 2021, Xiaomi introduced Xiaomi Smart Glasses, boasting a visualized information display and interactive features. In November 2021, Xiaomi launched Loop LiquidCool Technology, which improves smartphone heat dissipation under heavy usage. As of September 30, 2021, Xiaomi’s research and development team totaled 13,919 employees, accounting for more than 44% of total employees.

Robust overseas revenue with smartphone shipments ranked No. 1 in 11 countries and regions

Xiaomi’s revenue from overseas markets reached RMB40.9 billion during the third quarter of 2021, accounting for 52.4% of total revenue. Despite the global shortage of key components, Xiaomi solidified its market position by optimizing global market resource allocation and reinforcing its channels in accordance with local market conditions. According to Canalys, Xiaomi’s market share of smartphone shipments in the third quarter ranked No. 1 in 11 countries and regions and among the top five in 59 countries and regions globally.

Xiaomi continued to deepen its global market presence in the third quarter. According to Canalys, in the third quarter of 2021, Xiaomi ranked No. 2 in Europe with a smartphone market share of 21.5%. In Western Europe, Xiaomi smartphone market share reached 17.0% and ranked among the top three in terms of shipments; in Central and Eastern Europe, Xiaomi ranked No.2 with 28.7% smartphone shipment market share. In the third quarter of 2021, Xiaomi sold over 6.8 million smartphones through carrier channels in overseas markets excluding India, representing an increase of over 130% year-over-year. According to Canalys, Xiaomi smartphone market share in Western Europe carrier channels increased from 4.6% in the third quarter of 2020 to 13.0% in the third quarter of 2021.

At the same time, Xiaomi continued to strengthen its competitiveness in emerging markets. According to Canalys, in the third quarter of 2021, Xiaomi market shares in Latin America, the Middle East and Africa reached 11.5%, 16.3% and 7.3%, respectively. In addition, Xiaomi has maintained No. 1 position in smartphone shipments in India for the 16th consecutive quarter.

Q3 smartphone shipments ranked 3rd globally with continuous advancements in the premium market

In the third quarter of 2021, despite the global shortage of key components, the Group’s global smartphone shipments still reached 43.9 million. According to Canalys, in the third quarter of 2021, the Group’s global smartphone shipments ranked No. 3 with a market share of 13.5%. The Group’ smartphone revenue totaled RMB47.8 billion with a gross margin of 12.8%, an increase of 4.4 percentage points year-over-year.

Xiaomi user segmentation strategy and new products allowed the Group to broaden its user base. For many of its new smartphones launched this year, over half of the users are new Xiaomi users. Xiaomi introduced the brand-new Xiaomi Civi Series in September 2021 and was well received by users.

In the first three quarters of 2021, global shipments of Xiaomi’ smartphones priced at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets, totaled approximately 18 million, accounting for more than 12% of total shipments. In overseas markets, total shipments of smartphones priced at or above EUR300, or equivalent, grew by more than 180% year-over-year during the third quarter, mainly in Latin America, Western Europe and the Middle East.

During November’s Singles’ Day Shopping Festival, Xiaomi and Redmi brand smartphones together ranked No.1 in sales volume on Tmall.com, JD.com and Suning.com. The Group’s premium smartphones also ranked No.1 among Android smartphones priced above RMB4,000 on Tmall.com and JD.com. In addition, during the shopping festival, total sales volume of Xiaomi’ smartphones from its offline channels increased by more than 110% year-over-year.

“Smartphone x AIoT” strategy continues, new retail growth efforts accelerated

Xiaomi IoT and lifestyle products segment revenue was RMB20.9 billion during the third quarter of 2021, increasing 15.5% year-over-year. Notably, the Group’s overseas IoT and lifestyle products revenue reached a new record high despite the challenges in maritime shipping logistics overseas this quarter.

In the third quarter, against the backdrop of a year-over-year decline in global sales volume of TVs, Xiaomi’s global smart TV shipments reached 3.0 million with a year-over-year revenue increase of 19.5%. According to All View Cloud (“AVC”), Xiaomi’s TV shipments ranked No. 1 in mainland China for the 11th consecutive quarter and among the top five globally in the third quarter of 2021.

In addition, Xiaomi has expanded its premium smart home appliances categories to help users create a healthy and comfortable living environment. In the third quarter, Xiaomi launched smart home appliances including the Xiaomi 550L Four-door Smart Refrigerator and the Xiaomi Mini Washing Machine. Xiaomi’s smart ventilated air conditioners also performed well. During the November’s Singles’ Day Shopping Festival, Xiaomi’s cumulative sales of home appliances ranked No. 3 on JD.com.

Xiaomi’s AIoT platform continues to expand. As of September 30, 2021, the number of connected IoT devices (excluding smartphones, tablets and laptops) on its AIoT platform exceeded the 400 million marks for the first time. The number of users with five or more devices connected to its AIoT platform (excluding smartphones, tablets and laptops) exceeded 8 million.

This year Xiaomi accelerated its new retail growth efforts, further solidified its lead in online channels while rapidly expanding offline channels. As of the date of this announcement, the total number of Xiaomi’s retail stores in mainland China surpassed 10,000. Xiaomi expects the further growth in lower-tier market penetration will allow the Group to serve more users in mainland China.

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About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked no. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, more than 400 million smart devices connected to its platform as of September 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

IoTSF Puts Xiaomi’s IoT Security Policy Among the World’s Best

Beijing, CHINA, November 11th, 2021 – Xiaomi Corporation (“Xiaomi” or the “Group”), a consumer electronics and smart manufacturing company, has been given a top rating for its IoT security by the Internet of Things Security Foundation (IoTSF).

Xiaomi participated in the IoTSF 2021 Virtual Conference, a global event on November 3 and 4 that focused on IoT cybersecurity. Xiaomi, which as the world’s largest consumer AIoT platform, shared its insights on IoT security. During the event, IoTSF released a report which showed that Xiaomi is among the best companies implementing vulnerability disclosure policies. The report once again demonstrates Xiaomi’s leading position in IoT security.

IoTSF was formed in 2015 in response to growing threats to IoT applications. IoTSF has more than 100 members, including ARM, Cisco, BSI, Mastercard and Xiaomi, all of which are eager to find ways to protect IoT security. The IoTSF 2021 Virtual Conference was the seventh annual conference held by IoTSF. Delegates from various companies, institutions, and organizations discussed IoT security issues, and shared the latest researches and pioneering practices for building a safe, reliable and trustworthy IoT ecosystem.

Kevin Song, Head of Security and Privacy Compliance of Xiaomi, gave a presentation titled “IoT Security Compliance Framework Adoption Practice” at the conference. In his presentation, Kevin explained how Xiaomi built its IoT Security Compliance Framework using the highest standards in the industry, such as the IoTSF Compliance Framework and the ETSI EN 303 645 which is one of the first cohesive global standards for IoT cybersecurity.

IoTSF released the Contemporary Use of Vulnerability Disclosure Report, which detailed the disclosure policies of various technology companies. Xiaomi was on the “Green List”, which are companies that not only meet the basic requirements but also meet the extended threshold test of IoTSF. According to the report, there are 20 other companies from around the world that have also successfully got into the Green List of the report along with Xiaomi, including Google, Microsoft, Siemens, Bosch, LG, and Panasonic, etc.

John Moor, the Co-Founder and the Managing Director of IoTSF, said: “The mission of IoTSF has always been to help make IoT products safe to connect. As part of that mission, we’ve raised awareness and called upon IoT vendors to adopt a security-first approach and pay more attention to the growing number of IoT security threats. Xiaomi is a good example of a responsible vendor responding to that call and is a good example of a company taking security best practice seriously. Xiaomi has been active in demonstrating its commitments – for example publishing aVulnerability Disclosure Policy since 2019 and being transparent in how its teams adhere to the principle of security at all stages of the product life cycle . We’re proud to have them as members of IoTSF and showing leadership in the market.”

Xiaomi is one of the top smartphone brands in the world. It also established the world’s largest consumer AIoT platform. Xiaomi offers hundreds of products as a smart manufacturing and consumers electronics company and has more than 374.5 million smart devices (excluding smartphones and laptops) connected to its platform as of June 30, 2021. Xiaomi is committed to enhancing the security protection of its IoT products and improving user experience.

Xiaomi has been an implementor member of ioXt alliance. In July 2021, Mi 360° Home Security Camera obtained the Kitemark™ Certification for Residential IoT Devices from the British Standard Institution (BSI) while the Xiaomi Home app obtained the Kitemark™ Certification for Secure Digital Applications. The company also has been a leader in establishing a laboratory specializing in IoT security, to research the emerging security technologies, and to provide powerful protection for technology-enabled smart lifestyle.

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About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked No. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 374.5 million smart devices connected to its platform as of June 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

For more information about Xiaomi as a company, please visit https://blog.mi.com/en/.

Celebrate with Xiaomi on 11.11 Mega Sale and Xiaomi Friday this November

11.11 Mega Sale and Xiaomi Friday Campaign Kick Off

Xiaomi celebrates sales season with a total value of USD 639 million* in promotional offers

Beijing, CHINA, November 10th, 2021 – Xiaomi today announced two sales campaign for overseas markets, 11.11 Mega Sale and Xiaomi Friday, as well as a series of exciting Xiaomi Fans activities in celebration of the global shopping events, offering product discounts and vouchers with a total value of over USD 639 million* for customers worldwide.

Ready, Set, Shop! – 11.11 Mega Sale and Xiaomi Black Friday Goes Live

Xiaomi’s Mega Sale campaign will kick off on November 11, known as 11.11 or Double Eleven, and will continue through Xiaomi Friday to provide incredible deals for Xiaomi Fans this festive season.

Centered on the theme “Ready, Set, Shop!”, the 11.11 Mega Sale and Xiaomi Black Friday will bring discounts of up to 40% on major platforms such as Amazon, Tmall, Lazada, Shopee, Citilink, Jumia, Allegro, and more. These offers include Xiaomi’s best-selling smartphone models, such as Xiaomi 11T Series, Xiaomi 11 lite 5G NE, Redmi Note 10 Series, and Redmi 10. For 11.11 Mega Sales, in addition to the event on our official mi.com, Xiaomi is also collaborating with 39 online platforms across 13 markets** to offer the most innovative products at incredible prices to global customers. On Xiaomi Friday, the amazing offers will go live via 49 online retailers, covering 25 markets** around the world.

Special offers on Xiaomi’s own official channels, mi.com and Mi Store app, have also been prepared for Xiaomi Fans in Russia, Indonesia, Spain, and the UK. Fans can simply enter the “Better Together” discount code on their respective mi.com sites in the coupon section when checking out to enjoy the special offers.

“Friday It Up” with Xiaomi Mi-Stery BOX Black Friday Edition

Created back in 2019, the highly anticipated Xiaomi Mi-Stery BOX initiative will continue this year with the Xiaomi Black Friday Special Edition, to celebrate with Xiaomi Fans.

The Black Friday Special Edition of Mi-Stery BOX will feature “Friday It Up” special design elements, and Xiaomi Fans will have the chance to win via the @XiaomiGlobal Facebook page and @Xiaomi Twitter page from November 25th to 27th. Follow our global page for more information.

Win “My Top Picks” Xiaomi Products for Free

As a token of appreciation to the Xiaomi community, Xiaomi will also kick off the festive season with a special giveaway themed “My Top Picks” from November 5th to 11th. By posting screenshots of their three most-desired Xiaomi products, participants can enter the event in which the Xiaomi Community team will select the winner and gift them their desired products for free. Follow our Xiaomi Community Global Site for more information.

*The amount is calculated based on the total available promotions, product discounts and discount vouchers during 11.11 Mega Sale & Xiaomi Friday 2021 on all official authorized channels worldwide, and is subject to the availability and activity time of different markets.

**The sales partners vary between different markets. Please refer to local information for sales availability.

Xiaomi Introduces Loop LiquidCool Technology – The Next Generation of Heat Dissipation

Twice the cooling capability of conventional VC solutions, mass production aimed for H2 2022

Beijing, CHINA, November 5th, 2021 – Today, Global technology leader Xiaomi unveiled its latest breakthrough in heat dissipation – Loop LiquidCool Technology. Inspired by cooling solutions used in the aerospace industry, Loop LiquidCool Technology utilizes a capillary effect which draws liquid cooling agent to the heat source, vaporizes, and then disperses the heat efficiently towards a cooler area, until the agent condenses and is captured via a unidirectional closed looped channel. Compared to conventional vapor chambers solutions, this new technology has twice the cooling capabilities and ranks as the most efficient smartphone cooling solution. Xiaomi aims to bring Loop LiquidCool Technology to its products in H2 2022.

Loop LiquidCool Technology

This new technology features an annular heat pipe system that is composed of an evaporator, a condenser, a refill chamber, as well as gas and liquid pipes. Placed at heat sources, the evaporator has refrigerant that evaporates to gas when the smartphone is under high workload. The gas and airflow is then diffused to the condenser, where the gas condenses into liquid again. These liquids are absorbed and collected through tiny fibers in the refill chamber—which refills the evaporator—making it a self-sustaining system.

Although this new technology uses the same method as VC liquid cooling, the new form factor makes a significant efficiency difference. As conventional VC systems do not have separate channels for gases and liquids, hot gas and cool liquids mix and obstruct each other while, especially under high workload. The ring-shaped pump features a special gas pipe design, which greatly reduces air passage resistance by 30%. By allowing for a smoother steam flow, the maximum heat transfer capacity is increased by up to 100%.

One-way circulation is key to heat dissipation

To ensure one-way high-efficiency circulation, implementing a Tesla valve structure within the refill chamber is crucial. A Tesla valve is a one-way valve that allow liquid to pass through the evaporator, while blocking gases from moving in the incorrect direction. This allows for a higher efficiency in gas/liquid circulation throughout the system.

On a custom Xiaomi MIX 4, the original vapor chamber was replaced with a new Loop LiquidCool Technology solution. During a 30-minute Genshin Impact gameplay test running 60fps max video settings, this impressive cooling system kept the device below a max temperature of 47.7℃ and the processor was 8.6℃ lower than the standard version.

Thanks to the one-way circulation, gas-liquid separation, and low heat-resistance gas pipes of the Tesla valve, the flexible form factor also makes it possible to adopt and stack Loop LiquidCool Technology into any type of internal design. For example, a square-shaped loop will allow more space for the battery, camera module, and more.

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About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked No. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 374.5 million smart devices connected to its platform as of June 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

Xiaomi Stores in Mainland China Surpasses 10,000

On October 30th, Xiaomi ushered another significant moment in its development of New Retail business model: the 10,000th Xiaomi Store in mainland China was opened in Shenzhen, Guangdong. The store is located amongst one of the most bustling commercial areas in the city, occupying an entirely independent building of 600 square meters, equipped with a large naked eye 3D LED display.

Lei Jun, Founder, Chairman, and CEO of Xiaomi congratulated the opening of the 10,000th Xiaomi Store on his Twitter. Lu Weibing, Partner and Senior Vice President of Xiaomi Group, and President of China Region, President of International Department, and General Manager of the Redmi brand, said: “The opening of the 10,000th Xiaomi Store marked a new milestone-like breakthrough of the New Retail of Xiaomi.” Lu Weibing addressed that no matter how the company’s business goes, the initial vision of Xiaomi New Retail will always remain the same: letting every Xiaomi Fan have a Xiaomi Store close to homes, and allowing everyone to experience and purchase amazing Xiaomi products conveniently with reasonable prices.

The 10,000th Xiaomi Store adopts the brand-new “Xiaomi Store 4.0” concept, with a minimalist style and futuristic technology feeling. This also serves as a multi-function store that provides both sales and services. Customers can have hands-on experience and purchase almost all Xiaomi products, including the flagship smartphones, such as Xiaomi MIX FOLD and Xiaomi 11 series, the newly released Redmi Note 11 series products, and many AIoT products. At the store, all customers are allowed to return the purchased products for up to 7 days after purchase with no strings attached, and 15-day free replacement (including online purchases), plus one-year free in-store maintenance during the warranty period. Xiaomi also warrants repairing and other quality services of the products sent by customers at any service stores in Mainland China. In addition, the store also provides the options of ordering online and picking up items at the store, while having access to other related services on a regular basis.

In November 2020, Xiaomi announced a new goal: to enable every Xiaomi Fan to have a Xiaomi Store nearby in the future. As a result, Xiaomi New Retail has entered a stage of rapid expansion and is setting a record of 27 new Xiaomi Stores opened per day in Mainland China. In the past 12 months, a total of nearly 8,000 Xiaomi Stores have opened.

New Retail is one of the three pillars of Xiaomi’s “Triathlon” business model, along with smart hardware and Internet service. At the beginning of Xiaomi’s foundation, Lei Jun proposed that the Internet model could be implemented in retail to achieve higher efficiency, which could reduce the cost of sales and operation, therefore improving user experience. It has been proven that Xiaomi Stores have grown because customers trust them to provide products and services in an efficient and friendly way. Currently, Xiaomi Store is expanding rapidly not only within Mainland China but also in all markets around the world and receiving warm welcomes from customers. This not only increases more access for its consumers around the world to experience Xiaomi products directly but also shows Xiaomi’s relentless efforts in business advancement.

Lu Weibing said, “We believe that everyone has the right for a better quality of life through innovative technology, simply because the gap to a high quality of life should not be out of reach.”

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About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked No. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 374.5 million smart devices connected to its platform as of June 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

For more information about Xiaomi as a company, please visit https://blog.mi.com/en/.