Xiaomi Breaks Records in Q2 2025 as Smartphones and EVs Drive Growth

Xiaomi has delivered another record-breaking quarter, proving that its expansion strategy goes far beyond smartphones. The company reported Q2 2025 revenue of CNY 116 billion, up 30.5% year-over-year, marking its fifth consecutive quarter of 30%+ growth and the third straight quarter with revenues over CNY 100 billion.

Adjusted net profit surged 75.4% YoY to CNY 10.8 billion.

The smartphone business remains Xiaomi’s core, with 42.4 million units shipped worldwide – just behind Apple’s 44.8 million. Xiaomi now leads in Southeast Asia, ranks second in Europe, the Middle East, and Latin America, and holds third place in Africa. At home, however, it sits fourth, with Huawei’s resurgence and strong local loyalty keeping competition fierce. Still, Xiaomi is gaining traction in China’s premium segment, where nearly 28% of sales are now higher-end models.

Despite strong shipment figures, smartphone revenue dipped 2.1% YoY to CNY 45.5 billion as average selling prices slid slightly. Tablets tell a brighter story: Xiaomi shipped 3.1 million units globally, up 42.3% YoY, securing #5 worldwide and #3 in China. Its wearables continue to dominate – Mi Bands are the world’s best-sellers, and its TWS earbuds sit at #2 globally. The company even entered futuristic categories, unveiling Xiaomi Smart Glasses.

Beyond consumer electronics, Xiaomi is staking its claim in the EV market. Q2 deliveries hit 81,302 vehicles, pushing total EV sales above 300,000 since launch. July alone saw more than 30,000 cars delivered. With 335 EV stores across 92 cities and over 17,000 retail outlets overall in China, Xiaomi is scaling aggressively. Household appliances are also thriving, with air conditioners (+60% YoY), washing machines (+45% YoY), and refrigerators (+25% YoY) all climbing rapidly.

Although its Smart EV, AI, and New Initiatives segment still runs at a loss, quarterly deficits have narrowed significantly, nearing break-even. To sustain this diversification push, Xiaomi increased R&D spending by 41.2% YoY in Q2, aiming for CNY 30 billion this year. This budget fuels innovation in EV tech, AI projects, and the development of Xiaomi’s in-house chipset, the Xring O1.

Xiaomi’s story is no longer just about affordable phones – it’s about building a multi-sector empire. From premium smartphones to electric cars and even refrigerators, the brand is proving that it can be more than a challenger. It’s becoming a global powerhouse reshaping multiple industries at once.