Xiaomi breaks through growth with $15.46 billion

Xiaomi Corporation announced its unaudited consolidated results for the first quarter of 2025, ending March 31, 2025. Accordingly, in the first three months of the year, Xiaomi's revenue reached US$15.46 billion, up 47.4% year-on-year and surpassing the US$13.89 billion mark for the second consecutive quarter. Adjusted net profit reached US$1.49 billion, up 64.5%, marking a breakthrough start to 2025.

Xiaomi recorded growth across all business segments

Growth was recorded across all of Xiaomi’s business segments: Smartphones reached $7.03 billion (up 8.9%), IoT products and home appliances reached $4.49 billion (up 58.7%) – of which washing machines and refrigerators shipped at record levels, and air conditioners grew by over 65%. Smart electric vehicles (EV), AI and other new initiatives contributed $2.58 billion, with 75,869 Xiaomi SU7 units shipped in the quarter.

Xiaomi’s strategy of upgrading its product segments continues to yield positive results. The average selling price (ASP) of smartphones reached an all-time high of $168.21. The Xiaomi 15 Ultra, launched in February, recorded a 90% increase in sales compared to its predecessor in the same period last year.

The brand’s IoT and lifestyle product revenue continued to grow strongly, reaching $4.49 billion in Q1/2025, up 58.7% year-on-year. Gross profit margin hit a record 25.2%, up 5.4 percentage points – setting an all-time high for both revenue and profit margin.

In the wearables segment, Xiaomi is the global leader in smart bracelets and holds the No. 2 position in China. With TWS earphones, the brand holds the No. 2 position globally and leads the Chinese market.

As of March 31, Xiaomi had connected 943.7 million IoT devices (excluding smartphones, laptops, and tablets), up 20.1% year-on-year. The number of users owning five or more devices reached 19.3 million, up 26.5%. In March, the Mi Home app recorded 106.4 million monthly active users (MAU), up 19.5%; Xiaomi's AI assistant also reached 146.7 million MAU, up 17.5%.

The Xiaomi SU7 Series also contributes to strengthening Xiaomi's premium image. The Xiaomi SU7 Ultra, launched in February, has redefined the high-end electric vehicle market by entering the market with a starting price of over $69,450. The upcoming high-performance luxury SUV named Xiaomi YU7 is expected to further expand the company's market share in the high-end electric vehicle sector...

KIM THANH

Source: https://www.sggp.org.vn/xiaomi-but-pha-tang-truong-voi-1546-ty-usd-post797283.html