Xiaomi posts record Q1 revenue of ₹1.32 lakh crore, net profit jumps 64.5%
The consumer electronics manufacturer exceeded market expectations with a 47.4% revenue increase compared to Q1 2024, driven by robust growth across all business segments. This marks the second consecutive quarter where Xiaomi's revenue has topped ₹1.2 lakh crore.
Xiaomi reclaimed the top smartphone position in mainland China after a decade, capturing 18.8% market share. Global smartphone shipments reached 41.8 million units, generating ₹59,961 crore in revenue. The company's premiumization strategy showed results, with average smartphone selling prices reaching a record ₹14,372.
The Internet of Things (IoT) division delivered exceptional growth, with revenue surging 58.7% to ₹38,276 crore. Home appliance sales drove this expansion, with air conditioner shipments exceeding 1.1 million units (up 65%) and washing machine deliveries doubling year-over-year to 740,000 units.
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Xiaomi's electric vehicle venture gained momentum, delivering 75,869 SU7 Series vehicles and generating ₹22,041 crore in revenue from its EV and AI initiatives. The company maintains its target of 350,000 vehicle deliveries for 2025.
Looking ahead, Xiaomi announced plans to invest ₹2.37 lakh crore in research and development over five years. The company recently unveiled its self-developed 3nm XRING O1 chip, completing its "chip, AI, and OS" technology foundation.
With R&D expenses up 30.1% to ₹7,940 crore and over 21,700 research personnel, Xiaomi continues positioning itself as a technology leader across smartphones, IoT devices, and emerging sectors.
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