Xiaomi recently announced impressive financial results for the third quarter. Q3 for the company's quarter earnings increased 49%. Wave of success China manufacturer Meitu &, more precisely, announced the takeover of smartphone industry. Xiaomi aims to increase female listeners.
Xiaomi's financial statement showed a net profit of 2.841 billion yuan ($ 357 million). Total sales amounted to approximately 50.847 billion yuan (7.3 billion dollars). The size of the profit was created by smartphone sales – $ 35 billion ($ 5 billion). The Chinese mill has outpaced its 100 million sales plan and completed it two months before the end of the year. Xiaomi sold its smart phones primarily in the domestic market, but the revenue from international sales recorded an annual growth of 113%.
This year Xiaomi actively participated in the European market. The company opened its first online shop in the UK.
To diversify its audience, Xiaomi also buys Meitu's software rights. This company is known for its portrait and photo development applications.
According to the contract, Xiaomi will pay 10% of the profit from smartphones sold to Meitu, but not less than $ 10 million per year.