Emir BardakçıXiaomi achieved remarkable growth in the Chinese smartphone market during 2024, securing a net inflow of over 13 million new users according to official data presented at Xiaomi Group’s 2025 Investor Day. This impressive milestone was revealed by Lu Weibing, Xiaomi Group partner and president of the mobile phone department, demonstrating the company’s strengthening position in the highly competitive domestic market. The user acquisition success represents a significant victory against major competitors including Apple, Huawei, OPPO, Vivo, and Realme, with Xiaomi’s innovative product lineup and competitive pricing strategy playing crucial roles in attracting consumers. Notably, 5.5 million of these new users switched from Apple and Huawei devices, highlighting Xiaomi’s ability to compete effectively against premium brands and established market leaders.
Competitive Market Performance
Xiaomi’s exceptional performance in 2024 demonstrates the company’s strategic effectiveness in user acquisition across all competitor segments. The net inflow of 13 million users represents successful competition against major brands including Apple (A), Huawei (H), OPPO (O), Vivo (V), and Realme (R).
The breakdown of user acquisition includes:
- Total net inflow: 13+ million users
- Apple and Huawei switchers: 5.5 million users
- Competition victories across all major brands
- Sustained growth momentum throughout 2024
Global Ambitions and Market Position
Xiaomi has set ambitious targets for future growth, with the company aiming to join the exclusive “200 million club” for global annual smartphone sales. Currently ranked as the TOP2 brand in China, Xiaomi continues to strengthen its market position through consistent innovation and competitive offerings.
Financial Performance and Global Reach
Xiaomi’s smartphone business generated $7.4 billion USD (50.6 billion RMB) in revenue during Q1 2025, representing an 8.9% year-over-year increase with a gross profit margin of 12.4%. The company shipped 41.8 million smartphones globally, achieving 3.0% year-over-year growth for seven consecutive quarters.
According to Canalys data, Xiaomi maintains its position among the top three global smartphone manufacturers with a 14.1% market share, holding this ranking for 19 consecutive quarters.
Source: IT Home (https://ithome.com/)
