Xiaomi posts record Q3 revenues, but smartphone sales drop

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Xiaomi's revenues for the third quarter of 2019 were higher than ever at $7.63 billion, but how it got there is more interesting. The company's IoT and Smart Home divisions were the main forces behind the growth while the Smartphone division fell slightly. Smartphone sales still make up the bulk of the sales at $4.59 billion, however, this number is 7.8% down year on year. Xiaomi shipped 32.1 million smartphones in Q3, which puts it in fourth place globally (9.2% market share as per Canalys). IoT devices and other consumer electronics accounted for $2.22 billion of the total revenue,...



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