Emir BardakçıXiaomi Group has shown spectacular business momentum in 2024, representing an extraordinary turnabout in its growth track, as indicated by CEO Lei Jun during the 2025 Haidian District Economic and Social High-Quality Development Conference. The technological behemoth has weathered recent market headwinds well, reporting spectacular financial performance that reflects its strength and masterful execution.
Strong financial performance
The company’s financials are an indicator of the same, showing signs of revival and growth. Xiaomi outshined projections by delivering revenue worth RMB 92.51 billion during the third quarter of 2024, outshining analysts’ projections of RMB 90.28 billion. The performance speaks well of an immense year-on-year growth by 30.5%, showing the dominance by the company over markets and sound business strategies.
The financial success also hits the bottom line, as Xiaomi recorded a net profit of RMB 5.35 billion last quarter, surpassing numbers expected by RMB 4.73 billion. It indicates an improvement by 4.4% over last year, even while it has spent significantly on groundbreaking projects, including the company’s ambitious electric car project.
Future Growth Path
Looking ahead, Lei Jun’s vision continues driving Xiaomi forward toward rosy projections. Xiaomi forecasts it will continue the astonishing rate of expansion, targeting maintaining over 30% rate of growth next year. The projection reflects Xiaomi’s confidence in opportunities and strategic plans.
Innovation and Local Development
The success story of Xiaomi has an intimate connection with its birthplace, located in Beijing’s Haidian District. What had initially emerged as a very small startup with barely over a dozen individuals has expanded to an international technological giant. Lei Jun attributes this success, partly, to the quality environment for innovation located in Haidian, an environment that still contributes significantly to the company’s advancement and development.
The company’s commitment to technological progress, particularly in the areas of emerging sectors and intelligent electric vehicles, indicates its vision-centric approach toward outshining competition in the global technology industry.
Source: IT Home
