Shulou(Shulou.com)11/24 Report--

CTOnews.com August 29 news, Xiaomi Group today released the latest results for the second quarter. According to the data, Xiaomi Q2 had revenue of 67.35 billion yuan, down 4% from the same period last year, with a net profit of 3.67 billion yuan, up 168.5% from the same period last year. The adjusted net profit under non-IFRS was 5.14 billion yuan, an increase of 147% over the same period last year.

According to reports, Xiaomi shipped 32.9 million smartphones worldwide in the second quarter, and Q2 mobile phone revenue of 36.6 billion yuan decreased 13.4% compared with the same period last year, mainly due to a decrease in smartphone shipments, partly offset by an increase in the average selling price of smartphones.

CTOnews.com noted that Xiaomi's ASP reached 1112 yuan this quarter, up 2.8 per cent from a year earlier. Among them, thanks to the steady progress of high-end mobile phones, ASP in Chinese mainland region grew by more than 24% compared with the same period last year.

With regard to the industry concern about Xiaomi's capital situation of 4.8 billion yuan in India, Lu Weibing, president of Xiaomi Group, responded in a 29-day performance call that the funds were only frozen by the Indian government, not confiscated, and were still being resolved through legal channels.

Lu Weibing said that Xiaomi's operation in India has always been legal and compliant and is actively communicating with local government departments. Despite the long process, Xiaomi believes in the impartiality and independence of the Indian judiciary.

Lu Weibing also said that Xiaomi's business adjustment in the Indian market has achieved remarkable results, and we will see new changes in Xiaomi's share of the Indian market and the improvement of product structure in the future.

According to Xiaomi's financial report, overseas Internet service revenue rose 19.7% year-on-year to 2 billion yuan in the second quarter of 2023, a record high. Overseas Internet service revenue accounted for 26.8% of the total Internet service revenue, an increase of 2.9 percentage points over the same period last year.

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