Xiaomi President:Huawei selling Honor has no impact on Xiaomi’s strategy – Idaho Reporter

Asia, Technology

Xiaomi President:Huawei selling Honor has no impact on Xiaomi’s strategy

On November 24, at the media conference after the announcement of the third quarter 2020 results of Xiaomi Group, a journalist asked about the impact of Huawei’s sale of Honor on Xiaomi’s future strategy. Xiaomi Group President Wang Xiang made the following response. “We also saw news about Huawei and Honor from the media, no matter what, (on) our strategy has no influence.”

  Previously, on November 17, a number of companies issued a joint statement in the “Shenzhen Special Zone News” that Shenzhen Zhixin New Information Technology Co., Ltd. has signed an acquisition agreement with Huawei Investment Holdings Co., Ltd. to complete the acquisition of the business assets related to the Honor brand . After the sale, Huawei no longer holds any shares in the new company.

  Wang Xiang said that Xiaomi has always insisted on using Xiaomi’s approach to promote products and technologies in the global market. “We have not seen the need to adjust strategies. We will continue to adhere to the current strategy and adhere to the dual-brand strategy. This is from the product and brand perspective. In terms of it, we must adhere to the’mobile phone XAIoT’ strategy.”

  Xiaomi’s performance for the third quarter of 2020 showed that in the quarter, Xiaomi’s revenue reached 72.2 billion yuan, a year-on-year increase of 34.5%; adjusted net profit was 4.1 billion yuan, a year-on-year increase of 18.9%.

  During the reporting period, Xiaomi’s smartphone revenue reached 47.6 billion yuan, a year-on-year increase of 47.5%; smartphone shipments were 46.6 million units, a year-on-year increase of 45.3%. Both revenue and shipments hit a record high in a single quarter.

  According to the statistics of Canalys, a market research organization, in the third quarter of 2020, Xiaomi’s global smartphone shipments ranked third in the world, with a market share of 13.5%, the first year-on-year growth rate among the top five manufacturers, and the domestic market share increased from last year. In the same period, the 9.0% rose to 12.6%, and it is the only manufacturer in the top to achieve year-on-year growth.

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