• Ntc
  • Ncell
  • Samsung
  • Apple
  • Xiaomi
  • 2G to 5G
  • ISP
  • NTA
  • Tariffs
  • About us
Monday, June 16, 2025
NepaliTelecom
  • Home
  • Telecom News
    • News
    • NTA
    • Ntc
    • Ncell
    • Smart Cell
    • Digital Nepal
  • Gadgets
  • How To
  • Editors’ Pick
  • Contact
  • About
No Result
View All Result
  • Home
  • Telecom News
    • News
    • NTA
    • Ntc
    • Ncell
    • Smart Cell
    • Digital Nepal
  • Gadgets
  • How To
  • Editors’ Pick
  • Contact
  • About
No Result
View All Result
NepaliTelecom
No Result
View All Result

Xiaomi posts record profit of $897.6 million in first quarter 2024

Dinesh by Dinesh
May 28, 2024
in News
Reading Time: 2 mins read
Xiaomi

Chinese tech leader Xiaomi has announced record net profits of $897.6 million for the first quarter (Q1) of 2024 driven by growth trajectory in smartphones, IoT, electric vehicles (EV), etc. The financial report provides insights into the company’s flourishing businesses and its ever-growing prospects.

According to the report, Xiaomi Group’s total revenue grew by 27% year on year to $10.42 billion. Likewise, the net profit increased by 100.8% to $897.6 million. The report highlights the Chinese brand’s finances from January to March 2024.

Check out: Redmi Note 13 Pro Plus 5G Launched in Nepal | Price, Specs

Xiaomi delivers more finances in Q1 2024

Xiaomi reported an increase of 22.3% in gross profit margin, an increase of 2.8% year on year. The exceptional financial growth owes to its core businesses and market response in new ventures.

Especially, the average selling point (ASP) of Xioami/Redmi smartphones helped the brand greatly in returning great finances. In the first quarter of 2024, Xiaomi shipped 40.6 million units of smartphones. It’s an impressive year-on-year increase of 33.7%. This translated into the growth of smartphone revenue growth reaching $6.42 billion. The affluent brand also maintained its top-three position as the world’s leading smartphone OEM.

Xiaomi first quarter Q1 2024 financial infographic
Xiaomi

IoT marks momentous growth

Xiaomi’s venture into the Internet of Things (IoT) was impressive too hitting another long stride. Revenue from IoT products and lifestyle hit a record 21% year-on-year increase reaching $2.82 billion. The electric vehicles (EV) business remains on a high trajectory and the company targets to produce 100,000 EV units per year.

Similarly, the brand also saw its internet services gaining an increase of 14.5% year-on-year with its gross profit margin reaching 74.2%. Its revenues for overseas internet services reached over $357 million.

Check out: Redmi Buds 5 officially launched in Nepal | Find price and specs

Xiaomi’s strong financial performance shall continue in the coming quarters of 2024.

Follow us on Facebook, Twitter, and Viber to get the latest news, and information about Nepal Telecom, Ncell, Smart Cell, ISPs, mobile apps, and phones in Nepal.

Latest Posts

  • Ncell brings Sadhain ON Crorepati campaign, how to win?
  • realme C75 price dropped in Nepal | Latest update 2025
  • realme 14 5G launched in Nepal with a unique Mecha design
  • realme 14T 5G launched in Nepal with 6,000mAh battery
  • Android 16 launched, find top new features, how to install
  • Ncell extends “League of Creators” registration date
  • Sabina Pradhan Appointed as the Acting MD of Nepal Telecom
Comments
Previous Post

NTA denies Ncell license renewal, seeks Rs 20 billion at once

Next Post

The government earned Rs 6.58 billion in dividends from Nepal Telecom in FY 2079/80

Dinesh

Dinesh

An experienced tech writer covering news mostly on telecommunication, internet, latest tech & trends, and Gadgets. Being a technophile, I am particularly fascinated by the evolution of mobile networks in Nepal from legacy networks (2G, 3G) to 4G (with VoLTE, VoWiFi, eSIM) and the prospects of the upcoming 5G, and equally enthralled by the development of internet from the dial-up connection to the 2 Gbps XGS-PON fiber broadband technology and their transformative impact in the country.

Related Posts

Apple Service Center Tamrakar Complex
News

Apple Service Center opens in Tamrakar Complex

February 20, 2025
Hamro Pay
Apps

Hamro Pay app goes standalone on Play Store: Find Features

January 25, 2025
Xiaomi Nepal traffic police campaign
News

Xiaomi Nepal signs up with traffic police to raise awareness

December 28, 2024
Load More

You may also read

Ntc FTTH

Nepal Telecom Fiber Internet: Price, Speed, Offer, Packs [2025]

April 16, 2025
Nepal Telecom Acting MD managing director Sabina Maskey Pradhan

Sabina Pradhan Appointed as the Acting MD of Nepal Telecom

June 11, 2025

How to identify Ntc Ncell Smart Hello mobile numbers? [2025]

January 28, 2025
Ntc Namaste Wifi service with 4G LTE router

Namaste Wifi | Ntc’s Wireless Broadband with 4G Router [2025]

January 29, 2025
Nepal Telecom Managing Director Sangita Pahadi assumes office

Nepal Telecom MD Sangita Pahadi and 17 others charged with corruption in Billing case

June 8, 2025

Android 16 launched, find top new features, how to install

June 12, 2025
NepaliTelecom

Nepalitelecom.com is a website/blog which provides information regarding telecommunication in Nepal along with Gadgets and has been doing some research for the telecom market in Nepal. We intend to do more of such survey/research in the Nepalese Telecom sector.

SiteMap

📢 Follow us on Viber to get the latest news, and information about Nepal Telecom, Ncell, ISPs, mobile apps, and phones in Nepal.

Popular Categories

Ntc | Ncell | Telco News | ISP | NTA | Gadgets

Recent Posts

  • Ncell brings Sadhain ON Crorepati campaign, how to win?
  • realme C75 price dropped in Nepal | Latest update 2025
  • realme 14 5G launched in Nepal with a unique Mecha design

© 2025 Nepalitelecom

No Result
View All Result
  • Home
  • Telco News
  • Gadgets Nepal
  • Nepal Telecom
  • Ncell
  • Digital Nepal
  • How To
  • Editors’ Pick

© 2025 Nepalitelecom