Xiaomi Corporation has kicked off 2025 with record-breaking financial results, reporting unaudited consolidated revenue of RMB111.3 billion for the first quarter, marking the second consecutive quarter that revenue exceeded the RMB100 billion mark. The Group’s adjusted net profit surged 64.5% year-over-year (YoY) to RMB10.7 billion, the highest in its history, driven by its premiumization strategy and strong performance across all major business segments.
Smartphone revenue rose 8.9% YoY to RMB50.6 billion, supported by increased average selling prices (ASP) which reached a record RMB1,211 in Q1. The Xiaomi 15 Ultra, launched in February, saw 90% higher sales compared to its predecessor. The company shipped 41.8 million smartphones globally, maintaining a Top 3 global ranking for the 19th consecutive quarter. In mainland China, Xiaomi regained the top spot for smartphone shipments with an 18.8% market share — its first time leading the market in over a decade.
Xiaomi’s IoT and lifestyle products segment saw exceptional growth, with revenue soaring 58.7% YoY to RMB32.3 billion. Gross margin rose to 25.2%, setting new records for both revenue and profitability. Large smart home appliances were a standout, with washing machine shipments more than doubling YoY to 740,000 units and air conditioner shipments up over 65%. The company’s smart home ecosystem now connects 943.7 million devices, excluding smartphones, tablets, and laptops.
The company’s internet services segment also performed strongly, with revenue increasing by 12.8% YoY to RMB9.1 billion. Gross margin reached 76.9%, and global monthly active users (MAU) climbed to 718.8 million, with 181.1 million in mainland China.
Meanwhile, Xiaomi’s electric vehicle (EV) division continues to gain momentum. In Q1 2025, revenue from smart EVs, AI, and other new initiatives reached RMB18.6 billion. A total of 75,869 SU7 Series vehicles were delivered, and the company remains on track to meet its 2025 delivery goal of 350,000 vehicles. With 235 EV sales centers across 65 Chinese cities, Xiaomi’s expansion into the premium EV space is underscored by the Xiaomi SU7 Ultra and the upcoming Xiaomi YU7 SUV.
The company’s commitment to innovation remains steadfast. R&D expenses grew 30.1% YoY to RMB6.7 billion in the first quarter, with over 21,700 R&D personnel onboard and more than 43,000 patents filed worldwide. Xiaomi plans to invest RMB200 billion in research and development over the next five years, focusing on key pillars — chip development, artificial intelligence, and operating systems. A major milestone was reached with the launch of its self-developed 3nm SoC, the Xiaomi XRING O1, now featured in its latest smartphones and tablets.
With robust growth across smartphones, IoT, EVs, and internet services, Xiaomi has set a strong tone for the rest of 2025, affirming its position as a leader in consumer technology and innovation.