Xiaomi released its financial results for the first quarter of the current year on Wednesday, reporting an unaudited consolidated revenue of Rs. 1.31 lakh crore for the January–March period. This marks the second consecutive quarter in which the company has surpassed the Rs. 1.2 lakh crore milestone. Compared to the same quarter in the previous year, the tech giant claimed to have reached a year-on-year (YoY) growth of 47.4 percent. Xiaomi also claimed that its adjusted net profit reached Rs. 12,680 crore for the first time, marking a YoY growth of 64.5 percent.
Xiaomi Credits Premiumisation Strategy for Strong Revenue Numbers
In a press release, the Chinese tech giant posted positive revenue numbers across all its business divisions in Q1 2025. Crediting its premiumisation strategy, which refers to the company’s efforts to shift the product portfolio from budget offerings to a higher-margin, premium devices, Xiaomi said the newly launched products have seen a strong reception from consumers.
During this period, the company claimed its smartphone revenue grew by 8.9 percent YoY, reaching Rs. 59,961 crore. Most notable here is the Xiaomi 15 Ultra, which was launched in February, and witnessed sales growth by 90 percent compared to its predecessor during the same period, last year. Overall, the tech giant said that it pushed the average selling price (ASP) of smartphones to Rs. 14,372 in Q1 2025, marking a record high.
On the other hand, its Internet-of-things (IoT) and smart home devices were also said to grow by 58.7 percent compared to the same quarter in the preceding year, reaching Rs. 38,276 crore. Xiaomi’s hero products in this category were its washing machine and refrigerator. The company’s Electric Vehicle (EV), artificial intelligence (AI), and other new initiatives also brought in Rs. 22,041 crore in revenue, with a big highlight being the Xiaomi SU7 Series vehicles, which marked a total shipment of 75,869 units.
Xiaomi mentioned in the press release that its global smartphone shipments in the given quarter was 4.18 crore units, marking continued YoY growth for seven consecutive quarters. Citing data from Canalys (now part of Omdia), the company claimed that it maintained its position among the top 3 brands in terms of smartphone shipments for the nineteenth consecutive quarter, noting a market share of 14.1 percent.
Coming to the company’s IoT and smart home segment, Xiaomi claimed that its air conditioner shipments exceeded 11 lakh units, marking a significant 65 percent YoY growth. Its refrigerator and washing machine shipments also registered 8.8 lakh units and 7.4 lakh units, respectively.
The company also claimed that its global tablet shipments grew by 56.1 percent YoY, but actual shipment numbers were not shared. Additionally, the total number of users with five or more devices connected to its AIoT platform (excluding smartphones, tablets, and laptops) reached 1.93 crore, with a 26.5 percent YoY growth, Xiaomi said. Further, the tech giant claimed that the monthly active users of its Mi Home App and AI Assistant grew to 10.64 crore (19.5 percent YoY increase) and 14.67 crore (17.5 percent YoY growth), respectively.
