Xiaomi posts record Q1 results on the back of solid growth across smartphones, AIoT and wearables

Xiaomi shared its Q1 2025 financial report, and the numbers show growth across all key divisions within the corporation. Revenues soared to CNY 111.3 billion ($15.4 billion), which represents a 47% year-on-year growth, while net profits grew by over 64% and reached $1.48 billion.

Research and development expenses rose by over 30% and now amount to $930 million with Xiaomi’s portfolio now boasting over 43,000 patents worldwide. Nearly half of all Xiaomi employees (47.7%) work in the R&D field.

The smartphone and AIoT division, which is Xiaomi’s big earner, brought in $12.8 billion in revenue – a 22% improvement on the yearly basis.

Source: Canalys

As of March 2025, Xiaomi has over 718.8 million global monthly active users (MAU) across the smartphone and tablet domains, which represents a 9.2% jump compared to last year. The brand retained its status as a top-3 company in terms of global smartphone shipments for 19 consecutive quarters and led the Chinese market in terms of total shipments.

Xiaomi’s global and Mainland China smartphone shipments

Xiaomi also revealed that as of April, it invested over CNY 13.5 billion ($1.87 billion) in the development of its Xring O1 chipset, which made its debut on the Xiaomi 15S Pro and Pad 7 Ultra. The brand is reporting a growing presence in the flagship smartphone segment in China as it now holds a quarter of the premium device market.

Xiaomi is now a top-three brand in the global tablet market with 3.1 million shipments in Q1 and an 8.3% market share.

It also led the global wearables market for the January–March period. It is the second leading TWS player on the world stage and number one in China.

Xiaomi wearables and TWS shipments rankings

Xiaomi also disclosed 943.7 million connected IoT devices (not including smartphones, tablets and laptops) and added over 1000 new offline stores across mainland China. Revenues from the electric vehicle (EV) division grew to $2.5 billion.

Xiaomi shipped over 75,000 SU7 series EVs in its home market during Q1 which brings the total SU7 shipments to over 250,000.

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