In his statement, Lu Weibing said that Xiaomi’s sales increased sharply during the Lunar New Year this year, from smartphones to cars and home appliances. According to Lu, this is very different from previous years.
Chinese consumers flocked to buy Xiaomi products on the occasion of the New Year.
What Mr. Lu noted in his comments was that consumers still prioritize choosing Xiaomi products even when shopping at home during the New Year.
Looking back over the past year, Xiaomi has recorded many remarkable achievements in many fields. In the mobile phone market, the company continued to consolidate its position thanks to its advanced technology and reasonable price. In particular, the Xiaomi SU7 car model attracted the attention of consumers immediately after its launch. Thanks to its unique design and smart features, Xiaomi SU7 achieved sales of 150,000 units in 2024, although it only started shipping at the end of April 2024.
Not only successful in the mobile phone and electric vehicle markets, Xiaomi is also growing strongly with products such as TVs, refrigerators and washing machines. All of them have recorded rapid growth. These successes not only affirm the influence of the Xiaomi brand but also create a solid foundation for the company’s future development.
Xiaomi’s strategy of enhancing its brand, especially in the high-end product segment, has paid off, with an overall gross profit margin of 20.4%. Revenue from the company’s three core business segments, including smartphones ($6.56 billion), IoT and lifestyle devices ($3.6 billion), and internet services ($1.17 billion), all recorded significant growth. In particular, revenue from the smart electric vehicle (EV) and new initiatives segment reached $1.34 billion, close to the $1.38 billion mark.
As of September 30, Xiaomi’s cash resources reached 20.94 billion USD, setting a new record. During the 11.11 shopping festival, Xiaomi’s total sales value across all distribution channels exceeded 4.41 billion USD.
Smartphone revenue in the third quarter reached $6.56 billion, up 13.9% year-on-year. The Xiaomi 15 Series sold more than 1 million units, faster than the previous generation and led sales during the 11.11 shopping festival.
Not only successful in the mobile phone and electric vehicle markets, Xiaomi is also growing strongly with products such as TVs, refrigerators and washing machines. All of them have recorded rapid growth. These successes not only affirm the influence of the Xiaomi brand but also create a solid foundation for the future development of this large company.