The Chinese smartphone maker has extended its smartphone market and is already into various AIoT products, including Smart TVs. Although it’s been a few years only since it has launched its TV business, the brand, with its competitive pricing, has captured its home market for quite a long time now.
Recently it has emerged to be the No.1 TV Brand in China as per the financial report for the third quarter of the year. The report went on to show that Xiaomi’s IoT and consumer products segment has increased by 16.1% from just 15.6 billion yuan recorded in the third quarter of 2019 to 18.1 billion yuan recorded in Q3 2020.
Xiaomi is among the few brands that can dominate the AIoT market with its variety of smart solutions. Nevertheless, it has captured the Indian market too, and its recent notebook sales also is a major revenue booster.
In China, the sales for its Smart TVs and notebooks rose from 5.8 billion yuan in the third quarter of 2019 to 5.9 billion yuan in the third quarter of 2020 despite the pandemic. This is as much as YoY growth of 2.6% and the report also showing that Xiaomi has shipped almost 3.1 million units of Mi TVs in Q3 itself, highest ever by any brand.
The shipping estimates published by the market research firm Avi Cloud (AVC) show that Xiaomi has maintained its consistency apart for seven straight quarters in China. It is predicted that Xiaomi’s smart TV shipments will be continuing to rank among the top five across the globe.