Xiaomi Corp. announced in its fourth-quarter earnings report that its revenue jumped 49% year-on-year, landing at 109 billion yuan ($15.1 billion), surpassing expectations and exceeding the 100 billion yuan mark for the first time in the company's history. Profit soared 90.4% to 9 billion yuan ($1.2 billion).
In the full year 2024, Xiaomi saw revenue of 365.9 billion yuan ($50.6 billion), up 35% compared to 2023. Income grew by 34.9% for the year, climbing to 23.6 billion yuan ($3.3 billion). The company's smartphone and artificial intelligence arm recorded a 22.9% annual increase in revenue to 333.2 billion yuan ($46.1 billion). The number of shipped smartphones rose by 15.7% compared to 2023 to 168.5 million units, achieving a 13.8% global market share. The number of global active users reached a record high of 702.3 million, up 9.5% year-over-year.
