Regarding Xiaomi, public opinion in China is indeed polarized.

Some people believe that Xiaomi is the coolest company and a brand favored by young people, ranging from mobile phones to household appliances to automobiles, etc., and they strongly support it. Others have been criticizing Xiaomi, believing that Xiaomi lacks technology and takes every opportunity to criticize it.

Therefore, we see that for any news related to Xiaomi, the comments below are divided.

However, based on the current situation, regardless of how some domestic users criticize it, Xiaomi is actually quietly making a fortune in overseas markets.

This can be seen from smartphone sales. In the third quarter, Xiaomi's smartphones ranked third globally with sales of 43.1 million units, a year-on-year increase of 3.1%.

However, in the Chinese market, it ranks only fourth with sales of about 10.2 million units. Domestic sales account for only 24%, while overseas sales account for 76%, exceeding three-quarters of total sales.

Many people might criticize again, saying that Xiaomi sells its smartphones cheaply overseas and uses profits made domestically to subsidize overseas markets. But that's not true.

Data shows that in the third quarter of 2024, Xiaomi's overseas revenue was 40.16 billion yuan, a year-on-year increase of 15.8%, accounting for 43.4% of total revenue. This is because cars are not sold overseas; they are only sold in China and contributed 9.7 billion yuan in revenue this quarter.

If the impact of car sales revenue is excluded, Xiaomi's overseas revenue share for this quarter would reach approximately 50%, with half coming from overseas markets.

From MIUI data, by the third quarter, Xiaomi had 686 million MIUI users globally, with 518 million from overseas markets, accounting for approximately 76%.

In terms of ARPU, overseas users' ARPU was 5.21 yuan in this quarter, a year-on-year increase of 6.8%. Although it is still lower than that of domestic users, it indicates that overseas markets have been profitable and growing, which is also the reason for the increase in Xiaomi's overseas revenue and profits.

In fact, besides smartphones, Xiaomi's TVs and AloT products are also seeing continuously increasing sales overseas, ranking first in many markets, such as being the top-selling TV brand in India.

Going forward, Xiaomi's revenue, profits, and profitability of various products in overseas markets will continue to improve. Moreover, Xiaomi plans to export its cars to overseas markets.

It is evident that despite criticisms, Xiaomi has been focusing on overseas expansion and earning profits there. Although criticized domestically, Xiaomi has kept a low profile about its overseas development and not over-promoted it. However, in reality, Xiaomi is quietly making a fortune overseas.