Chinese consumer electronics and electric vehicle maker Xiaomi saw its net profit fall 27.3 per cent in the fourth quarter of 2025, as the company continues to invest heavily in car manufacturing.
According to a company press release, net profit in the October-December period was 6.54 billion yuan, down from 9 billion yuan in the same period a year earlier.
Adjusted net profit fell 23.7% to 6.35 billion yuan, while operating profit fell 29.9% to 6.23 billion yuan.
Meanwhile, revenue rose 7.3% to a record 116.92 billion yuan. The figure surpassed the 100 billion yuan mark for the fifth consecutive quarter, the report said.
Analysts on average estimated adjusted profit at 5.7 billion yuan on revenue of 116.2 billion yuan, according to the LSEG survey.
Xiaomi’s smartphone revenue in the fourth quarter was 44.3 billion yuan (down 13.6 per cent). The company shipped 37.7 million smartphones (down 11.6 per cent).
Revenue in the internet of things (IoT) and consumer electronics segment fell 20.3% to ¥24.6bn, while internet services revenue increased 5.9% to ¥9.9bn.
Revenue in the electric vehicles and other advanced technology segment grew 2.2 times to more than ¥37.2bn. Deliveries of electric vehicles in October-December grew 2.1 times to 145,115 thousand units.
In 2025, Xiaomi delivered 165.2 million smartphones, while the company’s own forecast was 180 million. According to the analytical company Omdia (formerly Canalys), Xiaomi’s share of the global smartphone market was 13.3%, which allowed it to enter the top three global suppliers for the fifth consecutive year.
Xiaomi’s stock price rose 1.9 per cent at the end of trading in Hong Kong on Tuesday, reporting after the market closed. The company’s capitalisation has fallen nearly 39% over the past twelve months, while the Hang Seng stock index added more than 7%.
Xiaomi was founded in 2010. The company manufactures smartphones, tablets, laptops, TVs, smart watches and smart bikes, as well as steamers, water testers and electric cars. The products are available in more than 100 countries.