Xiaomi Q1 Revenue Hits RM65.7 Billion as Premium Devices and EVs Drive Growth

 

Xiaomi Q1 Revenue Hits RM65.7 Billion as Premium Devices and EVs Drive Growth

Xiaomi Corporation reported a strong first quarter for 2025, recording revenue of RMB111.3 billion (approximately RM65.69 billion). This marks the second consecutive quarter Xiaomi has exceeded the RMB100 billion mark, highlighting robust performance across its smartphone, Internet of Things, and smart electric vehicle businesses.

The Group’s adjusted net profit reached RMB10.7 billion (approximately RM6.31 billion), up 64.5 percent year on year. These results reflect Xiaomi’s ongoing shift toward premium products and its growing technology ecosystem.

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Smartphone Business Delivers with Premium Devices

Smartphone revenue grew to RMB50.6 billion (approximately RM29.85 billion), driven by strong demand for the Xiaomi 15 Ultra, which achieved 90 percent higher sales than its predecessor during the same period. The average selling price increased to RMB1,211 (approximately RM714.38), a record for the company.

Xiaomi reclaimed the top smartphone shipment position in mainland China, capturing an 18.8 percent market share. Global smartphone shipments hit 41.8 million units, marking seven consecutive quarters of growth. Xiaomi maintained its top three global ranking for smartphone shipments.

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Internet of Things Business Sets New Records

Revenue from Xiaomi’s Internet of Things and lifestyle products rose 58.7 percent year on year to RMB32.3 billion (approximately RM19.05 billion). Gross margin improved to 25.2 percent, a record high. Despite entering the seasonal slowdown for home appliance sales, Xiaomi achieved:

• Over 1.1 million air conditioner units shipped, up more than 65 percent

• Over 880,000 refrigerators shipped, up more than 65 percent

• Over 740,000 washing machines shipped, doubling from last year

Xiaomi now has 943.7 million connected devices (excluding smartphones, tablets, and laptops) on its artificial intelligence and Internet of Things platform. The number of users with five or more connected devices reached 19.3 million, up 26.5 percent year on year.

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Xiaomi EV Delivers 75,869 Units and Targets 350,000 in 2025

Xiaomi’s smart electric vehicle and artificial intelligence division recorded RMB18.6 billion (approximately RM10.97 billion) in revenue. The Xiaomi SU7 Series achieved 75,869 deliveries in Q1 and is on track to meet its annual target of 350,000 units.

As of 31 March 2025, Xiaomi had opened 235 smart electric vehicle sales centers across 65 cities in China. The flagship SU7 Ultra, which launched in February with prices starting above RMB500,000 (approximately RM294,997.45), is helping Xiaomi solidify its brand in the premium electric vehicle market.

The company plans to expand this segment further with its upcoming high performance luxury sport utility vehicle, Xiaomi YU7.

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Investment in Innovation and Core Technology Ramps Up

Xiaomi’s research and development investment reached RMB6.7 billion (approximately RM3.95 billion) in Q1 2025, a 30.1 percent increase year on year. The company now employs 21,731 research and development professionals and holds over 43,000 global patents.

Looking ahead, Xiaomi plans to invest RMB200 billion (approximately RM118.04 billion) over five years in foundational technologies across chip development, artificial intelligence, and operating systems.

On 22 May, Xiaomi introduced its self developed Xiaomi XRING O1 3 nanometer system on chip, now powering select smartphones and tablets. This marks the full integration of Xiaomi’s core technologies in chip, artificial intelligence, and operating system development.

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Internet Services Expand with Record Margins

Xiaomi’s internet services revenue reached RMB9.1 billion (approximately RM5.37 billion), with gross margin increasing to 76.9 percent. Global monthly active users grew to 718.8 million, with 181.1 million users in mainland China.

Xiaomi also led in wearables, ranking number one globally in smart bands, number two in true wireless earbuds, and maintaining strong positions in tablet shipments.

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Xiaomi’s first quarter 2025 performance confirms its position as a leading global technology company, advancing in high value segments across smartphones, smart home, electric vehicles, and core technology development.

For more information and official statements, visit www.mi.com/global/discover/newsroom