Xiaomi, a leading smartphone brand based in China, has revealed its main achievements during the second-quarter of 2024.
Xiaomi posted total revenue of RMB88.9 billion or $12.46 billion (up 32 percent).
Xiaomi has generated revenue of RMB82.5 billion (up 22.5 percent) from smartphone × AIoT segment; and RMB6.4 billion from smart Electric Vehicle business.
Xiaomi’s smartphone revenue reached RMB46.5 billion (up 27.1 percent). The gross profit margin of smartphone business was 12.1 percent.
Xiaomi’s global smartphone shipments reached 42.2 million units (up 28.1 percent).
According to Canalys, Xiaomi maintained No. 3 global smartphone shipment ranking with a 14.6 percent market share.
Xiaomi’s smartphone shipments in China returned to the top 5, with its market share reaching 14.2 percent.
Xiaomi’s achieved significant growth in smartphone market share across the Latin America, Southeast Asia, Middle East and Africa.
In Latin America, Xiaomi’s smartphone shipments ranked among the top 2 for the first time, with market share of 18.6 percent.
In Southeast Asia, Xiaomi’s smartphone shipments rank rose to No. 2, with market share of 17.2 percent.
In the Middle East, Xiaomi’s smartphone shipments ranked No. 2, with market share of 21.2 percent.
In Africa, Xiaomi’s smartphone shipments ranked No. 3, with market share of 11.7 percent.
Global monthly active users (MAU) reached 675.8 million (up 11.5 percent) in June 2024.
The number of connected IoT devices on AIoT platform (excluding smartphones, tablets and laptops) increased to 822.2 million (up 25.6 percent) as of June 30, 2024.
Xiaomi has launched Xiaomi MIX Fold 4 and Xiaomi MIX Flip as part of premium smartphone strategy. Its premium smartphone shipments accounted for 22.1 percent of its total smartphone shipments in China, according to third-party data.
Xiaomi has achieved increases in market share across three premium smartphone price segments in China, including the RMB3,000–4,000 segment, the RMB4,000–5,000 segment, and the RMB5,000–6,000 segment.
The number of retail stores in China exceeded 12,000. Its market share of smartphone shipments through offline channels in China was 10.4 percent.
Xiaomi’s revenue from overseas markets reached RMB38.1 billion, accounting for 42.8 percent of the total revenue.
According to Canalys, Xiaomi’s tablet shipments ranked among the top five globally with market share of 6 percent. Xiaomi’s TWS earbud shipments ranked among the top three globally, and wearable bands7 shipments ranked among the top three globally.
In July 2024, Xiaomi launched the next-generation Xiaomi Smart Factory with an annual capacity of 10 million flagship smartphones. The factory is located in Changping District, Beijing, with a total investment of RMB2.4 billion.
Baburajan Kizhakedath
