Xiaomi 2025 Revenue Reaches RMB457.3 Billion
As Xiaomi further deepened the deployment of its “Human × Car × Home” strategy, all of its core businesses showed strong momentum. Revenue from the smart EV, AI and other new initiatives segment surged 223.8% year-over-year to RMB106.1 billion, not only surpassing the RMB100 billion mark for the first time but also achieving positive full-year income from operations for the first time, a historic breakthrough. Revenue from the smartphone business reached RMB186.4 billion for the year, while revenue from IoT and lifestyle products reached a record high of RMB123.2 billion.
Xiaomi’s premium products continued to gain market recognition in 2025, with the launch of new premium products including the Xiaomi 17 Ultra, Xiaomi 17 Ultra by Leica, and the Xiaomi YU7, a high-performance luxury SUV etc. As of February 2026, the Xiaomi YU7 Series ranked No. 1 in mid- to large-size SUV sales in the Chinese Mainland for seven consecutive months. In March 2026, Xiaomi launched the next-generation Xiaomi SU7, with locked-in orders surpassing 15,000 units within the first 34 minutes of launch, and surpassing 30,000 units in the first 3 days after launch.
Smart EV Revenue Surpasses RMB100 Billion for the First Time, Becoming a Core Growth Engine as the Group’s Growth Momentum Enters a New Era
2025 marked the first full year for the Group’s smart EV, AI and other new initiatives business, and it delivered a historic breakthrough by achieving positive full-year income from operations for the first time. Revenue from the segment reached RMB106.1 billion, up 223.8% year-over-year, with income from operations of RMB0.9 billion. In the fourth quarter alone, revenue from the segment reached RMB37.2 billion, up 123.4% year-over-year, accounting for 31.8% of Group revenue. As the segment’s revenue increasingly approaches that of the smartphone business, it has become the most powerful growth driver for the Group.
Xiaomi’s smart EV deliveries continued to climb, with total deliveries of 411,082 vehicles in 2025, including 145,115 vehicles in the fourth quarter. In 2026, we will strive to achieve the target of delivering 550,000 vehicles for the entire year. The Group continued to expand its sales and service network. As of December 31, 2025, Xiaomi had opened 477 smart EV sales centers across 138 cities in the Chinese Mainland.
In 2025, the Xiaomi SU7 Series ranked No. 1 in sales among sedans priced at or above RMB200,000 in the Chinese Mainland. In February 2026, Xiaomi officially revealed the Xiaomi Vision Gran Turismo, a visionary electric hypercar concept project, in Barcelona, becoming the first Chinese brand invited to contribute to this legendary franchise.
Xiaomi Smartphones Maintain Top-Three Global Ranking as Premiumization Strategy Delivers Strong Results
The Group’s smartphone business made steady progress in 2025, with revenue reaching RMB186.4 billion and global shipments totaling 165.2 million units. According to Omdia, Xiaomi maintained its top 3 global smartphone shipment ranking for the 5th consecutive year, with a market share of 13.3%. In the Chinese Mainland, Xiaomi ranked No. 2 in terms of smartphone units sold, with a market share of 16.6%, up 0.7 percentage points year-over-year.
Xiaomi’s premiumization strategy accelerated and delivered solid results. According to third-party data, in 2025, premium smartphones (retail price at or above RMB3,000) accounted for a record-high 27.1% of the Group’s total smartphone units sold in the Chinese Mainland. In the RMB4,000–6,000 price segment, the Group’s smartphone market share by units sold reached 17.3%.
Xiaomi continued to deepen its presence in global markets. Xiaomi smartphone shipments ranked among the top three in 58 countries and regions globally and among the top five in 70 countries and regions globally. In Latin America and Southeast Asia, Xiaomi rose to No. 2, with market share reaching 17.5% and 17.0%, respectively. In Europe and Africa, Xiaomi ranked No. 3, with market share rising by 0.6 and 1.4 percentage points year-over-year to 20.3% and 12.7%, respectively.
IoT and Internet Services Revenue Both Reach Record Highs as Global MAU Exceeds 750 Million
The Group’s IoT and lifestyle products business recorded record highs in both revenue and gross profit margin. Full-year revenue reached RMB123.2 billion, up 18.3% year-over-year, while gross profit margin increased by 2.8 percentage points year-over-year to 23.1%. The smart large home appliances business maintained its rapid growth momentum, with revenue up 23.1% year-over-year, as shipments of air conditioners, refrigerators and washing machines all reached record highs.
During the period, Xiaomi’s tablet products achieved steady growth. According to Omdia, Xiaomi tablet products ranked among the top five in global shipments and among the top three in the Chinese Mainland. Xiaomi’s wearable bands maintained a leading position, ranking No. 1 globally and No. 2 in the Chinese Mainland in 2025. TWS earbud shipments ranked No. 2 globally and No. 1 in the Chinese Mainland.
As of December 31, 2025, the number of connected IoT devices on the Group’s AIoT platform (excluding smartphones, tablets and laptops) reached 1,079.2 million, up 19.3% year-over-year. The number of users with five or more devices connected to the Group’s AIoT platform (excluding smartphones, tablets and laptops) reached 22.7 million, up 23.6% year-over-year. In December 2025, the MAU of the Xiaomi Home App grew by 11.7% year-over-year to 112.7 million.
The Group’s internet services business maintained solid growth. Full-year revenue rose 9.7% year-over-year to a record high of RMB37.4 billion. As of December 2025, global MAU increased by 7.4% year-over-year to 754.1 million, while MAU in the Chinese Mainland increased by 10.1% year-over-year to 190.4 million.
Full-Year R&D Investment Nears Annual Profit Level as AI Achievements Empower “Human × Car × Home” Ecosystem
Xiaomi remains committed to long-term investment, which forms the foundation for the Group’s technological breakthroughs and premiumization strategy. Full-year R&D expenses reached RMB33.1 billion, up 37.8% year-over-year, while total R&D personnel increased to 25,457. Cumulative R&D investment over the past five years totaled RMB105.5 billion, and the Group expects to invest at least RMB60 billion in AI over the next three years.
The Group’s AI large model capabilities have achieved key breakthroughs and are accelerating the empowerment of the “Human × Car × Home” ecosystem. Recently, Xiaomi unveiled three self-developed large models built for the agentic AI era – flagship foundation model Xiaomi MiMo-V2-Pro, omni-modal large model Xiaomi MiMo-V2-Omni, and speech large model Xiaomi MiMo-V2-TTS. Within less than a week of its launch, Xiaomi MiMo-V2-Pro ranked No. 1 in weekly call volume on OpenRouter, a global API platform, and was rated No. 8 globally and No. 2 in China on Artificial Analysis Intelligence Index. As for the previously released mobile agent, Xiaomi miclaw, it has entered invitation beta testing. The Group has also open-sourced its first-generation robotics large vision-language-action (VLA) model, Xiaomi-Robotics-0. In March 2026, Xiaomi’s embodied robots autonomously operated for 3 consecutive hours at the self-piercing nut loading workstation at the Xiaomi EV Factory, achieving a 90.2% success rate in simultaneous two-side installation while satisfying the production line’s fastest takt time of 76 seconds. This marked a critical step toward large-scale applications.
The convergence of AI, robotics for industrial use, smart EVs and smart manufacturing is accelerating. With its deep and integrated presence across cutting-edge technology, smart ecosystem and smart manufacturing, Xiaomi is forging a unique competitive advantage.
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core. Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The Company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology. Xiaomi is one of the world’s leading smartphone companies. In December 2025, the MAU reached 754.1 million (including smartphones and tablets) globally. The Company has also established the world’s leading consumer AIoT (AI+IoT) platform. As of December 31, 2025, the number of IoT devices connected to its platform (excluding smartphones, laptops and tablets) reached 1,079.2 million. In October 2023, Xiaomi upgraded its strategy to “Human × Car × Home” smart ecosystem, seamlessly merging personal devices, smart home products, and cars. Xiaomi always centers on humanity and is committed to providing comprehensive, better connected experiences. Xiaomi products are present in more than 100 countries and regions around the world. In July 2025, Xiaomi was included in the Fortune Global 500 list for the seventh year in a row, ranking 297th. Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.
Did this article help you? If so, please tell me in a comment what do you think about it.
Don’t miss any of our future video tutorials, follow us on Youtube. Like us on Facebook. Join our Best Deals Telegram Channel. Join our Android TV Box Firmware Updates Telegram Channel. Subscribe now to our newsletter. If you need Tech Reviewer or Youtube Influencer read this. Donate now here to support CGR Team!
