Overview:
In 2023, Xiaomi's IoT and lifestyle products achieved a significant revenue of RMB 80.1 billion, though YoY growth was relatively stable. By the end of 2023, the company had reached a milestone of more than 739.7 million AIoT-connected devices. Xiaomi's global monthly active users (MAU) reached 641.2 million, marking a historic high and representing a YoY increase of 10.2%. In October 2023, Xiaomi launched its upgraded strategy, “Human x Car x Home,” aimed at integrating technology into consumers' lives. This vision includes the introduction of “Xiaomi HyperOS” to enhance user experiences across devices.
This report provides a deep-dive analysis of lifestyle and IoT products as well as the strategy of Xiaomi in 2023 and the first half of 2024.
