Xiaomi Corp. reported a 7.3% year-over-year increase in fourth-quarter revenue. Total revenue reached 116.9 billion yuan. This amount converts to approximately $17 billion. The figure narrowly exceeded analyst estimates.
The results mark the company's slowest growth rate since 2023. Surging electric vehicle (EV) sales failed to offset declines in core smartphone and AIoT segments.
Revenue for the smartphone and AIoT division totaled 79.7 billion yuan. The smart EV and AI-related innovative businesses segment generated 37.2 billion yuan. This innovative segment grew 123.4% compared to the previous year.
Adjusted net profit fell 23.7% for the quarter. Profit reached 6.3 billion yuan. Heavy EV investments and increased market competition drove the decline.