TapTechNews May 23rd news, Xiaomi Group announced today that in the first quarter of 2024, the company's total revenue reached 75.5 billion yuan ($10.94 billion), an increase of 27% year-on-year; the adjusted net profit was 6.5 billion yuan ($0.94 billion), an increase of 101% year-on-year.
TapTechNews summarizes the detailed situation as follows:
The revenue of the smart phone business was 46.5 billion yuan ($6.76 billion), with a year-on-year growth of 32.9%, and the global shipment volume was 40.6 million units, with a year-on-year growth of 33.7%.
The revenue of the IoT and consumer products business was 20.4 billion yuan ($2.96 billion), with a year-on-year growth of 21%, and the gross profit margin reached a new high of 19.9%.
The revenue of the Internet services business was 8 billion yuan ($1.16 billion), with a year-on-year growth of 14.5%, and the overseas Internet services revenue increased by 39% year-on-year.
The company continued to invest in the fields of AI and smart cars, and the R & D expenditure was 5.2 billion yuan ($0.75 billion), an increase of 25.4% year-on-year.
As of April 30, 2024, the cumulative locked orders of the Xiaomi SU7 series reached 88,063 units. As of May 15, 2024, the cumulative delivery of new cars of the Xiaomi SU7 series has reached 10,000 units. The goal is that in June 2024, the monthly new car delivery volume of the Xiaomi SU7 series will exceed 10,000 units.