Xiaomi Posts 47% Q1 Revenue Growth with $2.5B Electric Vehicle Sales

Xiaomi reported a robust 47.4% year-over-year revenue increase for the first quarter of 2025, reaching 111.3 billion yuan ($15.48 billion), with adjusted net profit rising 64.5% to 10.7 billion yuan, exceeding analyst expectations. The company's innovative business segment, including smart electric vehicles (EVs) and artificial intelligence (AI), generated 18.6 billion yuan in revenue, with EVs contributing 18.1 billion yuan despite a 500 million yuan operating loss. Xiaomi's EV business showed sequential growth, with first-quarter revenue up 11% from the previous quarter and delivering 75,869 SU7 series vehicles, marking a cumulative total exceeding 258,000 units. The launch of new EV models, including the SU7 Ultra and the YU7 electric SUV, supports Xiaomi's intensified focus on expanding its EV market share. Additionally, Xiaomi's smartphone revenue increased 8.9% to 50.6 billion yuan with global shipments rising 3%, while its Internet services and IoT segments also showed significant growth. The company continues to invest heavily in R&D, with expenditure up 30.1%, highlighting its commitment to innovation across its diversified product portfolio.