A "beyond imaginable" 44% of Xiaomi's revenue so far this year came from outside China
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Xiaomi's CEO, Lei Jun, presented on his company's performance at China's State Council Information Office press conference today (November 21, 2018). The executive reported that revenues for the third quarter of 2018 had had a year-on-year increase of 112.7%. This growth appeared to be heavily influenced by international sales.
In fact, Lei Jun announced that 43.9% of Xiaomi's 2018 revenues so far came from outside China. As the CEO noted, "Xiaomi's [...] progress of internationalization has exceeded its own imagination". The company now has a presence in 80 markets, and is among the top 5 brand in 30 of these. Many of these markets are European; however, Xiaomi also acknowledges the United States as an important region.
In all, Xiaomi recorded total revenues of just over US$7 billion, which was 49% more compared to this time last year. A number of its product categories were associated with increased year-on-year (YoY) revenues, including its TVs, with a YoY growth of 198.5%.
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