1. Xiaomi's IoT and lifestyle products revenue grew significantly in 2024, reaching 104.1 billion yuan, up 30% year-on-year. The gross margin improved to 20.3%, up 3.9 percentage points.
2. Smart home appliances performed exceptionally well, with shipments increasing 47.4% year-on-year. Tablet products maintained rapid growth, with global shipments up over 73%.
3. The company aims to grow its air conditioner business by over 50% in 2025 and become a top 2-3 player in the market by 2030.
4. Xiaomi is expanding its offline retail presence, planning to have 20,000 Mi Stores in mainland China by the end of 2025, including 400-500 larger stores integrating car and 3C product sales.
5. The company sees strong synergies between its smartphone and electric vehicle businesses, with car showrooms helping drive smartphone sales and vice versa.
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.