Xiaomi has published its financial results for the second quarter of 2018. Turns out, as you'd expect from a company that recently became more valuable than LG, things are going pretty well for the Chinese manufacturer.
The company reports a sales increase of "2700%" year over year in Western Europe, but it only began officially selling devices in the region last November, starting with Spain. In May, Xiaomi made a big to-do about expanding into France and Italy, hosting launch events and opening flagship stores in Paris and Milan. The newfound focus on Europe is evidently paying off, though, culminating in a year-over-year increase of international revenue of 151.7 percent.
The rest of the company's financials are less exciting, but still decidedly positive. Total revenue and gross profit for the second quarter of 2018 were up three and nine percent year over year, respectively, to RMB 45.2 billion ($6.8 billion) and RMB 5.7 billion ($855 million). Xiaomi also saw a rise in monthly active MIUI users from 146 million in Q2 2017 to 207 million in Q2 2018, marking an impressive increase of 41.7 percent.