Xiaomi Net Profit More Than Doubles on Strength of EV, IoT Businesses

Xiaomi Corporation has reported a remarkable surge in profitability for the third quarter ending September 30, 2025: net profit jumped from 5.35 billion yuan a year ago to 12.27 billion yuan (approximately US $1.73 billion). Revenue for the quarter rose 22.3 % year‑on‑year to 113.12 billion yuan. The driving force behind this upturn was the company’s burgeoning electric‑vehicle (EV) and Internet‑of‑Things (IoT) / lifestyle product segments. The EV business alone attained a milestone by becoming profitable for the first time, marking a major pivot from Xiaomi’s traditional smartphone‑centric roots. Smartphones still account for a large share of Xiaomi’s revenue, but the diversification into “New Initiatives” such as EVs and AI‑capable IoT devices is clearly starting to pay off. For the nine‑month period, the company posted revenue of 340.37 billion yuan and net income of 35.10 billion yuan, compared with 256.90 billion and 14.63 billion respectively a year earlier. While the overall revenue beat expectations, the increase in net profit far out‑paced the top‑line growth, signaling improved margins and more effective monetisation of newer business units. With the EV arm having transitioned from investment mode into profitability, Xiaomi is positioning itself as more than just a smartphone maker—it’s vying to become a major player in smart devices and mobility. #Xiaomi #EVgrowth #IoTinnovation #TechEarnings #SlimScan #GrowthStocks #CANSLIM