Xiaomi revenues reported as over $50 billion in 2024

Xiaomi has devoted part of its latest financial report to its first-gen car, asserting that the SU7 is particularly popular among women and those who typically use Apple products, thereby "reshaping Xiaomi's user base and enhancing its premium brand image".

The OEM also hints that the car's new, high-performance Ultra variant (which has now seen about 19,000 pre-orders, 10,000 of which are "locked in") will make it even stronger in 2025.

Xiaomi also now estimates that such new projects such as the SU7 has helped it earn 32.8 billion yuan (~$4.54 billion) in 2024, about half of which revenue (16.7 billion yuan (~$2.31 billion)) was amassed in the year's final quarter (4Q2024).

More established lines of Xiaomi's business such as its smartphones also saw "remarkable" growth in 2024, accounting for 52.4% (or 191.8 billion yuan (~$26.52 billion)) of the company's revenues throughout the year.

The OEM asserts that its shipments increased by 15.7% compared to 2023, "making it the largest contributor to the industry’s growth". It also credits the 15 Ultra with over 50% more sales within the first 15 days of its release compared to the 14 Ultra.

Xiaomi also claims that its takings for 4Q2024 are the highest for any quarter in the company's history, totalling 109 billion yuan (~$15.1 billion), or 48.8% more compared to 4Q2023.

The resulting profits also reportedly "exceeded market expectations" at 8.3 billion yuan (~$1.1 billion): 69.4% more year-on-year.

The Xiaomi 14T Pro: now available for $639.99 on Amazon