Chinese smartphone maker Xiaomi sold 28.3 million smartphones in the second quarter, down 3 percent from 29.2 million in the first quarter, according to the company's financial report released on August 26.
Xiaomi's second-quarter revenue was 53.54 billion yuan, beating market estimates of 51.4 billion yuan, up 3.1 percent year-on-year.
The company's adjusted net profit was 3.373 billion yuan, down 7.2 percent year-on-year.
Xiaomi's smartphone segment revenue for the second quarter was 31.6 billion yuan, down 1.2% year-on-year.
Xiaomi's IoT and consumer lifestyle products segment revenue for the second quarter was RMB 15.3 billion, up 2.1% from the same period last year. Internet service revenue reached RMB 5.9 billion in the second quarter, up 29.0% year-on-year, and accounting for 11.0% of total revenue.
Xiaomi said that despite the impact of the epidemic in the second quarter, the company's revenue from overseas markets reached RMB 24 billion, up 10.0% year-on-year and accounting for 44.9% of total revenue.
According to Canalys, Xiaomi has been ranked in the top five in market share in a total of 50 countries and top three in 25 countries by smartphone shipments in the second quarter of 2020.
In the core overseas market of India, Xiaomi said that the country has implemented strict lockdown measures since late March, which has had a major impact on the company's sales.
With the gradual lifting of the lockdown in India in the second quarter of 2020, consumer demand began to rebound, but overall sales levels are still more limited by the supply side as local production capacity has yet to return to normal levels.
In July 2020, the average daily number of smartphone activations in India had rebounded to 72% of the pre-lockdown level in January. In July, the average daily number of smartphone activations outside of India had reached 120% of the pre-lockdown level in January.
Samsung overtakes Xiaomi to reclaim top spot in Indian mobile phone market in Q2
