Xiaomi IoT Traction and Strategy – A Deep Dive Analysis
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.
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Category
Industry
IoT
Report Type
Report
Time period
Half-Yearly
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Author
Prachir Singh
Prachir is a Senior Research Analyst at Counterpoint Research based out of Gurgaon. In Counterpoint, he closely tracks mobile devices and ecosystem. He also tracks Emerging Tech Opportunities. He has a total of 10+ years of experience across various sectors like manufacturing, management consulting, strategy and operations. He is an engineering graduate from Indian Institute of Technology (IIT), Kharagpur.
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