Xiaomi’s Q3 Earnings Surge As Its EVs Report First Profitable Quarter

Xiaomi has reported a solid third quarter, marking the fourth straight period in which its revenue crossed $14.07 billion.

EV and AI Divisions

The company reported $4.08 billion in revenue from its electric vehicles (EVs), AI efforts, and other new initiatives. While Xiaomi did not break down each category, it confirmed that its EV division recorded its first profitable quarter, generating $98 million in income.

EV deliveries also rose sharply. Xiaomi delivered 108,796 units in Q3, up from 81,302 in the previous quarter. October alone accounted for 40,000 deliveries, and the Xiaomi YU7 became the best-selling SUV in China for the month.

Still Top 3 Globally

Xiaomi shipped 43.3 million smartphones worldwide in Q3, extending its growth streak to nine consecutive quarters. The company remains in the Top 3 globally and ranks second in China.

Smartphone revenue reached $6.47 billion, supported by rising demand in the $562–$843 price range. This segment accounted for 18.9% of Xiaomi’s total shipments, up 5.6% points from a year earlier.

The Xiaomi 17 series also posted strong early results, with sales nearly 30% higher than the Xiaomi 15 lineup. The 17 Pro and 17 Pro Max models made up more than 80% of the series’ total sales, leaving less than 20% for the standard Xiaomi 17.

Xiaomi’s accessory categories performed well, too. Its TWS earbuds ranked second worldwide and first in China, while its tablets placed in the Top 5 globally and Top 3 in China.

Over 1 Billion IoT Devices

Xiaomi’s smart home platform has now surpassed 1 billion connected IoT devices, marking a major milestone for the company’s broader ecosystem. Revenue from IoT and lifestyle products climbed to $3.89 billion, reflecting 5.6% year-over-year growth.

Xiaomi remains committed to expanding its research and development capabilities. During the first three quarters of the year, the company invested $3.30 billion in R&D, with $1.28 billion spent in Q3 alone, a 52.1% increase compared to last year. Xiaomi’s R&D team has now grown to 24,871 employees, the highest in its history.

The company was also recognized on Forbes’ list of the World’s Best Employers of 2025, marking the third time Xiaomi has earned a place on the ranking.