Xiaomi Corp., a consumer electronics and smart manufacturing company, reported revenue of RMB116 billion in the second quarter of 2025, up 30.5% from the same period last year. It was the third straight quarter that the company’s revenue exceeded RMB100 billion.
Adjusted net profit reached RMB10.8 billion, an increase of 75.4% year-over-year, this is the second consecutive quarter that profit passed RMB10 billion.
The company’s three main businesses, smartphones, smart electric vehicles (EVs), and smart large home appliances, contributed to the growth.
Revenue from the smartphone segment totaled RMB45.5 billion, supported by the eighth consecutive quarter of higher shipments. Xiaomi shipped 42.4 million smartphones globally, with sales performing steadily in both Mainland China and overseas markets. The company also noted that its share in higher-priced smartphone models continued to expand.
In June, Xiaomi launched its first sport utility vehicle, the Xiaomi YU7 Series, which the company positioned as a high-performance luxury SUV. The model received over 240,000 locked-in orders within 18 hours of its release.
The smart EV, AI, and other new initiatives segment posted RMB21.3 billion in revenue, more than tripling from a year ago. EV sales alone contributed over RMB20 billion, the first time the company reached that level. Xiaomi delivered 81,302 vehicles in the quarter.
The IoT and lifestyle products business also showed strong results, with revenue rising 44.7% year-over-year to RMB38.7 billion. Gross profit margin for the segment grew to 22.5%. Xiaomi’s large home appliances performed well despite price competition in the market. Revenue from the category rose 66.2%, with shipments of air conditioners reaching 5.4 million units, refrigerators at more than 790,000 units, and washing machines at over 600,000 units.
Xiaomi’s tablet shipments increased 42.3% year-over-year, the fastest growth among the world’s top five vendors, according to consulting firm Canalys. The company also ranked second globally and first in Mainland China in true wireless stereo (TWS) earbud shipments. In June, Xiaomi introduced its first AI-powered glasses, which quickly sold out in some versions.
The company’s AIoT platform continued to expand. As of June 30, 2025, the number of connected IoT devices, excluding smartphones, tablets, and laptops, rose 20.3% year-over-year to 989.1 million. Users with five or more connected devices increased 26.8% to 20.5 million. Monthly active users (MAU) of the Mi Home App reached 113.1 million, while MAU of the AI Assistant grew to 153.2 million.
In AI research, Xiaomi released its multimodal large language model MiMo-VL-7B in May and later open-sourced its audio reasoning model MiDashengLM-7B. The company said 12 of its AI research papers were accepted by global conferences such as ICCV 2025 and ACL 2025.