Xiaomi Reports ₹1.31 Lakh Crore Revenue in Q1 2025, Beats Market Estimates

Xiaomi has kicked off 2025 with a strong financial performance, reporting an unaudited consolidated revenue of ₹1.31 lakh crore for the January–March quarter. This marks the second consecutive quarter where the tech major has crossed the ₹1.2 lakh crore revenue milestone. Year-on-year, this represents a 47.4% growth, reflecting the brand’s rising dominance in the global tech and consumer electronics space.

The company also reported an adjusted net profit of ₹12,680 crore, showing a robust 64.5% increase over Q1 2024, indicating improving margins and operational efficiency.

Premiumisation Strategy Powers Growth

In its earnings release, Xiaomi attributed its stellar performance to its premiumisation strategy, which focuses on shifting from budget-centric offerings to high-margin premium devices. This shift has been evident across all its business verticals.

The smartphone segment alone contributed ₹59,961 crore in revenue, an 8.9% increase over the same quarter last year. This growth was heavily driven by the successful launch of the Xiaomi 15 Ultra in February 2025, which recorded a 90% higher sales volume than its predecessor in the same period. Xiaomi also achieved a record average selling price (ASP) of ₹14,372 per smartphone, indicating stronger demand for premium handsets.

IoT and Smart Home Devices Deliver Exceptional Growth

Xiaomi’s Internet-of-Things (IoT) and smart home division posted a remarkable 58.7% YoY revenue increase, reaching ₹38,276 crore in Q1 2025. Products like air conditioners, refrigerators, and washing machines played a key role in this surge.

The company shipped over:

• 11 lakh air conditioners (65% YoY growth)

• 8.8 lakh refrigerators

• 7.4 lakh washing machines

These figures showcase Xiaomi’s expanding footprint in Indian and global homes as a trusted smart appliance brand.

New Initiatives: EVs and AI Push Revenue Further

Xiaomi's newer ventures, especially in Electric Vehicles (EVs) and Artificial Intelligence (AI), generated ₹22,041 crore in revenue for the quarter. The launch of the Xiaomi SU7 Series EVs proved highly successful, with 75,869 units shipped during the period.

These emerging verticals underscore Xiaomi’s evolution from a smartphone manufacturer to a diversified tech powerhouse.

Consistent Growth in Global Smartphone Shipments

Globally, Xiaomi shipped 4.18 crore smartphones in Q1 2025, marking the seventh consecutive quarter of year-on-year growth. According to research firm Canalys, Xiaomi continues to be one of the top three global smartphone brands, maintaining a 14.1% market share and cementing its leadership for the nineteenth straight quarter.

AIoT and Tablets Gain Momentum

The tablet segment also recorded a strong performance with a 56.1% YoY increase in global shipments, although Xiaomi did not reveal absolute figures.

Xiaomi’s AIoT platform saw growing adoption, with 1.93 crore users connecting five or more smart devices (excluding phones, laptops, and tablets)—a 26.5% YoY increase. This growth highlights the brand’s ability to build an interconnected smart ecosystem that resonates with consumers worldwide.

Surge in App Engagement Reflects Ecosystem Strength

Xiaomi’s digital ecosystem also witnessed solid growth. The Mi Home App reached 10.64 crore monthly active users, up 19.5% YoY, while the Mi AI Assistant saw 14.67 crore users, a 17.5% YoY rise. These numbers highlight the increasing stickiness of Xiaomi’s digital services.

Conclusion: Xiaomi’s Strategic Diversification Pays Off

Xiaomi’s Q1 2025 performance showcases the success of its strategy to diversify beyond smartphones into AIoT, EVs, and smart home devices, while also moving upmarket with premium smartphone offerings. With solid fundamentals, growing user engagement, and strong product demand, Xiaomi looks set for continued growth in the coming quarters.