Xiaomi has published its Q3 2025 financial report and the numbers are spectacular – it’s the fourth consecutive quarter with revenues over CNY 100 billion.
Xiaomi’s smartphone business is well established at the moment and continues to perform – the company shipped 43.3 million units globally, marking the 9th consecutive quarter of growth. Globally, Xiaomi is in the top 3 and in China it is at #2.
Revenue from the smartphone division was CNY 46 billion. Xiaomi saw higher demand for its phones in the CNY 4,000-6,000 segment (ie $560-$845), which accounted for 18.9% of its shipments (up 5.6 percentage points year over year).
The Xiaomi 17 series has been on sale for a month and has outperformed the Xiaomi 15 by nearly 30%. Interestingly, the Xiaomi 17 Pro and 17 Pro Max account for over 80% of sales, while the vanilla Xiaomi 17 accounts for less than 20% of sales.
Xiaomi’s TWS buds are ranked #2 globally (and #1 in the Chinese market), while Xiaomi tablets are in the top 5 (top 3 in China).
Xiaomi sees revenue exceed CNY 100 billion in Q3, boosts smartphone and EV sales
Xiaomi’s smart home division is celebrating an important milestone – it now has more than 1 billion connected IoT devices on its platform. IoT and lifestyle products generated revenue of CNY 27.6 billion (up 5.6% year-on-year).
The company continues with another impressive number – revenue from “smart EV, AI and other initiatives” has reached CNY 29 billion. It’s not clear exactly what the division is and what those other initiatives are.
The EV business has achieved profitability in its first quarter. Again, no breakdown, but EV, AI and others generated CNY 0.7 billion in revenue.
Additionally, quarterly deliveries of EVs have crossed 100K units – 108,796 to be exact, up from 81,302 in the second quarter. This includes 40K deliveries in October. Xiaomi YU7 was the #1 SUV in terms of sales in China in October.
In the first three quarters, Xiaomi invested CNY 23.5 billion in Research and Development (R&D), of which Q3 accounted for CNY 9.1 billion (up 52.1% from last year). The company’s research and development workforce now stands at a record 24,871. Xiaomi was named one of the World’s Best Employers of 2025 by Forbes (the company is making that list for the third time).