On May 26th, Gizcoupon reported that Xiaomi released its financial report for the first quarter of 2023 on May 24th（Beijing Time）. According to the report, the company’s total revenue for the first quarter reached 59.5 billion yuan (approximately $8.414 billion), representing a decline of 18.9% compared to the same period in 2022. Adjusted net profit stood at 3.2 billion yuan (approximately $453 million), reflecting a growth of 13.1% from the same period last year. This figure includes expenses related to innovative businesses, such as smart electric vehicles, amounting to 1.1 billion yuan (approximately $156 million).
Xiaomi Group revealed that they officially established the large-scale model team of the AI laboratory in April. Currently, the number of personnel in the AI field has exceeded 1,200. Additionally, Xiaomi will continue to explore user scenarios related to AI, leveraging its technological advantages and adopting an open-minded approach to collaborate with partners and pursue more opportunities.
Gizcoupon noted that Xiaomi smartphone global shipments in the first quarter of 2023 reached 30.4 million units, experiencing a year-on-year decline of 13.3%. This represents the lowest Q1 shipment volume since 2014. During this quarter, Xiaomi smartphone business generated a revenue of 35 billion yuan (approximately $4.949 billion). Based on Canalys data, Xiaomi maintained its position as the third-largest global smartphone vendor in terms of shipment volume, with a market share of 11.3%.
