Xiaomi Global Shipments Grew 45% in Q3, 2020 Following Huawei Sanctions

Nov. 25, 2020

Xiaomion Tuesday reported a 19% jump in third-quarter net profit on the back of a 45% growth in global shipments YoY. The company reportedly benefited fromHuawei’s troubleswith crushing US sanctions that have massively disrupted the latter’s smartphone business, forcing it tosell off its Honor brand.

Amidst all the uncertainties surrounding Huawei, Xiaomi gained marketshare in China and Europe as the company’s international shipments crossed 50% of its overall volumes for the first time. The company, however, hasfaced headwinds in Indiafollowinggrowing anti-China sentimentsin the country after clashes between Indian and Chinese soldiers on the border earlier in the year. The company expects to continue gaining market share worldwide in the current quarter following new sanctions imposed on Huawei in August.

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