Xiaomi Reports Strong First Quarter Business Results

In the first three months of 2025, Xiaomi reported robust growth. The Chinese company delivered strong, double-digit growth in revenues and profits as it turned to more premium devices.

The company posted revenue of RMB111.3 billion ($15.4 billion), up 47% YoY. Adjusted net profit was above RMB10.7 billion, up 64.5%. Robust growth was seen across all business segments during the quarter.

Smartphone revenue grew by 8.9% to RMB50.6 billion, IoT and lifestyle products revenue surged 58.7% to RMB32.3 billion, with washing machine and refrigerator shipments hitting record highs while air-conditioner shipments defied headwinds, up over 65.0%. Revenue from smart Electric vehicles, AI, and other new initiatives reached RMB18.6 billion, with deliveries of SU7 Series vehicles totaling 75,869 units.

Xiaomi's premiumization strategy gained traction across all categories. The average selling price of smartphones rose to RMB1,211 in Q1, a record high. Sales of the Xiaomi 15 Ultra, launched in February, grew by 90% compared to its predecessor during the same period.

The company stated it is firmly committed to investing in foundational core technologies and becoming a global leader. R&D expenses reached RMB6.7 billion, up 30.1%. As of March 31, 2025, Xiaomi’s R&D personnel hit a record high of 21,731. It also extended its intellectual property capabilities, obtaining over 43,000 patents worldwide. The Group plans to invest RMB200 billion in R&D over the next five years.