Xiaomi Accounts for 11.4% of Smartphone Sales in Egypt

Chinese electronics company Xiaomi revealed that it was ranked fourth in terms of smartphone units sold in Egypt during the second quarter of this year.

Xiaomi accounted for about 11.4% of the Egyptian market share of smartphone sales, compared to 8.7% in the same period last year, up by 2.7 %.

The company said in a statement this week that according to marketing research firm IDC, Xiaomi came in third place in terms of sales value, with 11.9% in Q2 2019, compared to 7.94% in the same period a year earlier.

Xiaomi International announced its results for the Q1 2019, ended 30 June, exceeded expectations. "The company's performance exceeded analysts expectations due to its dual strategy of smartphones and artificial intelligence, which provides operational efficiency and enhances risk tolerance," Xiaomi pointed out.

[caption id="attachment_75477" align="aligncenter" width="678"] Redmi Note 8 Pro[/caption]

The company's total revenue in Q2 2019 grew by 14.8% to record 51.95 billion yuan, with a net profit of 3.64 billion yuan, an increase of 71.7% year on year.

Xiaomi was founded in 2010 and headquartered in Beijing. It invests in smartphones, mobile apps, laptops, Television, fitness bands, and other commodities.

The company has unveiled its brand new smartphones Redmi Note 8 Pro, featuring Samsung GW1 64MP camera module at an entry-level price.