Xiaomi's 2024 Annual Report: Record Highs Secure Top 3 Global Smartphone Market Position

Xiaomi's 2024 Annual Report: Record Highs Secure Top 3 Global Smartphone Market PositionXiaomi Group today released its 2024 annual report, hailed by Chairman and CEO Lei Jun as "Xiaomi's strongest ever." The report showcases impressive results for the full year 2024: total revenue reached RMB 365

Xiaomi's 2024 Annual Report: Record Highs Secure Top 3 Global Smartphone Market Position

Xiaomi Group today released its 2024 annual report, hailed by Chairman and CEO Lei Jun as "Xiaomi's strongest ever." The report showcases impressive results for the full year 2024: total revenue reached RMB 365.9 billion, a year-on-year increase of 35.0%; net profit reached RMB 23.6 billion, a year-on-year increase of 34.9%; and adjusted net profit hit a record high of RMB 27.2 billion, a year-on-year increase of 41.3%. These figures demonstrate Xiaomi's strong growth momentum and significantly improved profitability in 2024.

This substantial performance improvement stems from solid development across all business segments. The smartphone business, Xiaomi's core, maintains strong competitiveness. In 2024, smartphone revenue reached RMB 191.8 billion, a year-on-year increase of 21.8%, with a gross profit margin of 12.6%, reflecting successful market positioning in both high-end and mid-to-low-end segments. Global smartphone shipments reached 168.5 million units, a year-on-year increase of 15.7%.

Notably, Xiaomi's global competitiveness continues to strengthen. According to Canalys, Xiaomi secured the third position in global smartphone shipments in 2024, achieving a 13.8% market share, solidifying its position as a leading global smartphone manufacturer. This achievement is attributed to Xiaomi's long-term commitment to innovation, user experience, and aggressive overseas market expansion. Consistent R&D investment fuels the development of competitive products meeting diverse consumer needs. Simultaneously, Xiaomi's active expansion into overseas markets has built a wide sales network and brand influence globally, laying a solid foundation for its increased market share.

Xiaomi's exceptional full-year performance is mirrored in its Q4 2024 results. Q4 smartphone revenue reached RMB 51.3 billion, a year-on-year increase of 16.0%, with a gross profit margin increasing by 0.3 percentage points quarter-on-quarter to 12.0%, indicating continued strong growth momentum. Global smartphone shipments reached 42.7 million units, a year-on-year increase of 5.3%. Canalys data confirms Xiaomi's consistent top-three ranking in global smartphone shipments for Q4, holding a 13.0% market share and maintaining its top-three position for the 18th consecutive quarter. This proves Xiaomi's market competitiveness has withstood the test of time and possesses sustainable growth potential. Maintaining a top-three ranking reflects not only Xiaomi's strength but also validates its long-term strategic planning and market strategies.

Xiaomi's 2024 annual report not only summarizes the past year's achievements but also guides future development. Xiaomi will continue increasing R&D investment, launching innovative products, enhancing user experience, and further solidifying its leading position in the global smartphone market. It will also actively explore new business growth points and expand into new market areas to build a stronger foundation for the company's sustainable future. Lei Jun stated at the press conference that Xiaomi will continue to adhere to long-term strategies, prioritize user needs, and continuously innovate to provide global users with better products and services.

Xiaomi's significant growth in 2024 is the result of strategic planning and team efforts. In the future, Xiaomi will continue to focus on technological innovation and user experience enhancement to deliver better technological experiences to global consumers, maintain its leading position in the global smartphone market, and strive for higher-level development goals. This strong performance report indicates Xiaomi will maintain strong growth momentum and occupy an even more significant position in the global smartphone market.

Xiaomi's 2024 success is a result of several factors: strong R&D capabilities, efficient supply chain management, precise market positioning, and an aggressive globalization strategy. These successful experiences provide valuable lessons for Xiaomi's future development and serve as a successful case study for other companies. In conclusion, Xiaomi delivered a satisfying report in 2024, marking a milestone in its development and setting an example for Chinese technology companies competing in the global market. Xiaomi will continue to be driven by innovation and user-centricity, creating greater value and bringing better technological lives to global consumers. This performance report also instills confidence in investors and the market, further strengthening Xiaomi's position in the capital market.