Xiaomi revenue drops 14.7% to 280.044 billion yuan

Xiaomi has revealed that its revenue fell 14.7 percent to 280.044 billion yuan, while profit dropped 87 percent to 2.502 billion yuan in 2022.
Xiaomi 2022 revenue from smartphoneXiaomi’s fourth-quarter sales dipped 22.8 percent to 66.05 billion yuan ($9.6 billion), while profit fell 28.6 percent to 3.141 billion yuan.

Xiaomi said its smartphone shipments reached 150.5 million units in 2022.

Xiaomi has maintained No. 3 global smartphone shipment ranking with 12.8 percent market share, according to Canalys.

In December 2022, Xiaomi active users of MIUI reached 582.1 million globally, an increase of 14.4 percent year-over-year. As of December 31, 2022, the number of connected IoT devices (excluding smartphones, tablets and laptops) on AIoT platform reached 589.4 million, up 35.8 percent year-over-year.

In 2022, Xiaomi’s revenue from overseas markets reached RMB137.8 billion and accounted for 49.2 percent of our total revenue. According to Canalys, Xiaomi market share of smartphone shipments in 2022 ranked among the top three in 54 countries and regions and among the top five in 69 countries and regions globally.

Xiaomi’s research and development expenses reached RMB16 billion, a CAGR of 38.4 percent during 2017–2022.

Xiaomi aims to invest over RMB100 billion in research and development over the five-year period beginning in 2022 through 2026. Research and development personnel of Xiaomi accounted for approximately 50 percent of total headcount.

Xiaomi’s smartphone revenue reached RMB167.2 billion and global smartphone shipments touched 150.5 million units in 2022. The average selling price (ASP) of smartphones reached RMB1,111, setting a record high.

Xiaomi’s smartphone revenue reached RMB36.7 billion and smartphone shipments reached 32.7 million units in the fourth quarter of 2022.

In 2022, Xiaomi’s revenue from IoT and lifestyle products amounted to RMB79.8 billion, a decrease of 6.1 percent year-over-year. In the fourth quarter of 2022, revenue from IoT and lifestyle products was RMB21.4 billion, an increase of 12.5 percent quarter-over-quarter.

In 2022, Xiaomi’s revenue from internet services reached RMB28.3 billion, an increase of 0.4 percent year-over-year. In the fourth quarter of 2022, revenue from internet services was RMB7.2 billion, an increase of 1.5 percent quarter-over-quarter.