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Data comes from Counterpoint
AIoT: Xiaomi’s explosion after waiting for TV
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AIoT has always been the brightest part of Xiaomi’s financial report, and this time is no exception. In Q3 2019, Xiaomi’s IoT and consumer products revenue was 15.6 billion yuan, an increase of 44.4% year-on-year, and the proportion of revenue continued to increase, reaching more than 29%.
The growth of smart TV business is encouraging. Global shipments of Xiaomi’s smart TVs in the third quarter of 2019 reached 3.1 million units, a year-on-year increase of 59.8%. In the first half of this year, Xiaomi TV’s shipments and sales in China exceeded 4 million units. According to Aowei Cloud Network, Xiaomi TV ranked first in mainland China’s TV shipments in the third quarter of 2019. Reached 16.9%. Xiaomi TV has initially established advantages in channels, brands, and cost-effectiveness. This quarter, it also tested the high-end market and launched Xiaomi TV 5.
However, the sales cost of Xiaomi AIoT has also gone up, rising from 9.7 billion in the same period last year to 13.6 billion, and marketing has not cost much.
Xiaomi also launched a new wearable “Xiaomi Watch” this quarter. At present, this product, as one of the few “real Android smart watches”, occupies the advantage of the advance card market.
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