Aiming to be the first in mobile phone sales in the world, Xiaomi: We are grabbing more and more users from Apple, Huawei and other brands

Quick Technology News on August 22, Xiaomi announced its financial report yesterday, with total revenue reaching 88.9 billion yuan, a year-on-year increase of 32.0%; net profit was 5.1 billion yuan, compared with 3.7 billion yuan in the same period last year. Adjusted net profit was 6.2 billion yuan, a year-on-year increase of 20.1%. Overall, this financial report is still very good, and the company president Lu Weibing also accepted interviews with the media and gave a lot of useful information. In Lu Weibing's view, mobile phones are an existing market and a mature market, so there are no special tricks to do mobile phone business. The only way is to implement the strategy that Xiaomi has formulated in a down-to-earth manner. As for what Xiaomi is currently promoting, such as the ThePaper OS 2.0 version that is being developed intensively, continuous supply chain management, etc. Lu Weibing also said that Xiaomi has continued to make high-end products in the past few years. We first practice high-end in China, and after the practice is successful, we push high-end overseas. Therefore, this year you will see that Xiaomi’s high-end overseas progress is also very good. "I believe that Xiaomi's market share will gradually increase in the future, and we are very confident in the long term. We have also promised that Xiaomi will not change its long-term goal of becoming the world's No. 1 mobile phone seller." Regarding the upcoming iPhone 16, Lu Weibing said that from his perspective, the trend of "Xiaomi grabbing more and more iPhone users" will not change just because a certain product is launched. I am still very confident about this. This time after the release of Xiaomi's foldable phone Xiaomi MIX Flip, about 42% of the users were iPhone users. Over the past few years, I think Xiaomi’s product benchmarking and experience have improved. As of today, we are not only robbing iPhone users, we are actually robbing all brands. We are robbing users of these five brands: Huawei, Honor, OPPO, VIVO, and iPhone. Everyone has also seen that this year Xiaomi added 15 million net users in the Chinese market within one year. Xiaomi is actually snatching users from all brands. This is the current trend. When asked about the postponement of the release of Huawei's flagship (Mate 70), Lu Weibing bluntly said that he did not understand and could not make any comments. However, he believes that in today's environment, the overall competitive landscape or trends will not change fundamentally.

In Lu Weibing’s view, the third quarter of this year may have nearly doubled compared to the third quarter of last year (memory costs). But we think (cost increases) have bottomed out.

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