On Tuesday Chinese smartphone maker Xiaomi reported it earned 55% of its third quarter revenues from markets outside of China, marking the first time in the company’s ten-year history that contributions from the brand’s overseas business surpassed domestic ones.
“Excluding India, where we have been the number one smartphone brand for 13 consecutive quarters, our overseas smartphone shipments almost doubled on a year-over-year basis,” Xiaomi chief financial officer Alain Lam said during an investor call Tuesday. The smartphone maker reported $10.97 billion in revenue for the third quarter, logging a 34.5% increase over last year.
