In the third quarter, MI (Xiaomi)’s revenue reached RMB 72.2 billion ($11 billion) which is the fastest growth since its 2018 listing and, beat Apple, climbing to be the third-largest smartphone vendor of the world behind Samsung and Huawei. The global shipment contributed most of its growth, thanks to the technology sanction imposed on Huawei which has cut it off from the global semiconductor supply chain and the list of Google Android authorization, resulting in insufficient outputs and reluctant use of Huawei handsets across the globe.
