Last Updated -
February 4, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
Xiaomi Corporation, founded in 2010 and headquartered in Beijing, is a Hong Kong listed consumer electronics and smart manufacturing group (stock code 1810). It built its brand on smartphones sold under Xiaomi, Redmi, and POCO, supported by internet services and a growing device portfolio. Xiaomi’s mission is “to relentlessly build amazing products with honest prices,” linking product design to mass-market pricing.
Beyond phones, Xiaomi sells wearables, TVs, tablets, laptops, routers, home appliances, and smart home products that connect through its AIoT platform. As of December 31, 2024, Xiaomi reported 904.6 million connected IoT devices on its platform (excluding smartphones, tablets, and laptops), underscoring the scale of its installed base. The company frames this as a “Human x Car x Home” strategy, with HyperOS as the software layer that links devices and user accounts across categories.
In 2024, Xiaomi entered smart electric vehicles with the Xiaomi SU7 series as an extension of its ecosystem approach. By December 31, 2024, Xiaomi reported total deliveries of 136,854 SU7 series vehicles. This step expands Xiaomi from “smartphone plus AIoT” into a broader platform spanning personal devices, the home, and mobility.
Xiaomi’s model combines high-volume hardware with high-margin services, built around an ecosystem that links phones, home devices, and vehicles. Since Q2 2024, Xiaomi reports two segments: Smartphone × AIoT and Smart EV and other new initiatives. The Smartphone × AIoT segment includes smartphones, IoT and lifestyle products, internet services, and other related business, while the EV segment is driven mainly by vehicle sales.
Xiaomi ties the portfolio together through its “Human × Car × Home” strategy and Xiaomi HyperOS 2, introduced in October 2024 with HyperCore, HyperConnect, and HyperAI. The ecosystem scale is large: 904.6 million connected IoT devices on its AIoT platform as of December 31, 2024 (excluding smartphones, tablets, and laptops), 702.3 million global monthly active users by the end of the reporting period, and 100.8 million Mi Home App MAU in December 2024.
On distribution, Xiaomi continues to push a blended online and offline approach via its retail network, positioning 2025 as a “Year of Balanced Expansion” and stating an expectation to add about 10,000 new Mi Home stores overseas over five years. Operationally, Xiaomi runs a wide supplier network and also maintains selective in-house manufacturing capabilities, including a smartphone factory in Changping, Beijing.
In market position, Xiaomi ranked third globally in smartphones in 2025 with about a 13% share (Counterpoint data reported by Reuters). IDC data for Q3 2025 also places Xiaomi third, with 43.4 million shipments and 13.3% share.
China represents Xiaomi’s home and largest market, characterized by intense competition from rivals such as Huawei, Oppo, Vivo, and Apple . Xiaomi’s strategy in China leverages a blend of competitive pricing, innovation, localized products, and community-driven marketing .
To remain relevant and appealing, Xiaomi consistently tailors products to the tastes and preferences of Chinese consumers, incorporating region-specific features and deepening its integration with popular local digital services. Despite significant market competition and regulatory complexities, Xiaomi is strong brand reputation, extensive ecosystem, and value-driven approach allow it to maintain a resilient market position.
Xiaomi’s next phase centers on scaling its “Human × Car × Home” strategy with a bigger emphasis on premium hardware, operating system integration, and a fast-ramping EV business. 2025 results showed momentum from this shift, with record Q1 revenue of RMB 111.3 billion and adjusted net profit of RMB 10.7 billion, driven by higher-end smartphones and home appliances. Q3 2025 revenue reached RMB 113.1 billion and adjusted net profit rose to RMB 11.3 billion, supported by EV and AI-related initiatives.
This Company Profile was written by Dominik Diemer
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