Xiaomi reports record-breaking financial results for 2024

Xiaomi announced its financial results for Q4 2024 and the entire year. The company reported a revenue of CNY 365.9 billion ($50.5 billion), setting a new record. This represents a significant 35% increase from the previous year, driven by strong performances across all sectors: smartphones, electric vehicles, IoT, and internet services.

The smartphone revenue reached CNY 191.8 billion ($26.5 billion), accounting for 52% of overall sales. Xiaomi sold 169 million units in 2024, ranking among the top three smartphone manufacturers in 56 countries and among the top five in 13 more countries.

The report highlighted a momentum in category-wide premiumization, elevating the premium market to new heights. Xiaomi captured 24.3% of the CNY 4,000 – 5,000 ($550-$700) price segment and 9.7% in the CNY 5,000 – 6,000 ($700-$850) segment range.

Globally, the Xiaomi ecosystem boasts 700 million Monthly Active Users (MAU), with just 170 million located in China. This figure encompasses smartphone users, smart home device owners, wearables, and even EVs.

Speaking of electric vehicles Xiaomi increased its deliveries with every quarter, totaling 136,854 vehicles sold in 2024. After the company already reached 200,000 units total yesterday, the delivery goal for 2025 was adjusted upwards to 350,000 units.

Xiaomi SU7 Ultra

Xiaomi disclosed having 21,190 individuals engaged in research and development. The investment in R&D amounted to CNY 24.1 billion ($3.3 billion), with plans to boost spending by 25%, aiming for CNY 30 billion ($4.15 billion) in 2025.

Source

Keep your phone secure and easily accessible in your car with the Miracase Phone Holder for Your Car! This Amazon Best Seller is designed for easy installation and holds your phone firmly in place, ensuring a safe and convenient driving experience.

With a 4.3/5-star rating from 29,710 reviews, it’s a top choice for drivers! Plus, over 10,000 units sold in the past month! Get it now for just $15.99 on Amazon.

Help Power Techcratic’s Future – Scan To Support

If Techcratic’s content and insights have helped you, consider giving back by supporting the platform with crypto. Every contribution makes a difference, whether it’s for high-quality content, server maintenance, or future updates. Techcratic is constantly evolving, and your support helps drive that progress.

As a solo operator who wears all the hats, creating content, managing the tech, and running the site, your support allows me to stay focused on delivering valuable resources. Your support keeps everything running smoothly and enables me to continue creating the content you love. I’m deeply grateful for your support, it truly means the world to me! Thank you!