Xiaomi Reports Record 2024 Results, Plans Aggressive EV and Overseas Expansion in 2025
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Xiaomi reported strong financial results for 2024: - Total revenue reached 365.9 billion yuan, up 35% year-over-year - Adjusted net profit hit 27.2 billion yuan, up 41.3% - Smartphone shipments grew 15.7% to 168.1 million units - IoT revenue exceeded 100 billion yuan for the first time, up 30% - Internet services revenue reached 34.1 billion yuan, up 13% - EV business delivered 136,854 units with 18.5% gross margin - R&D expenses increased 25.9% to 24.1 billion yuan
For 2025, Xiaomi aims to: - Increase EV production capacity to deliver 350,000 units - Expand overseas IoT business and retail presence - Continue investing heavily in AI technology - Maintain steady operations while pursuing further growth 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.
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