{"id":792848,"date":"2024-10-01T08:26:45","date_gmt":"2024-10-01T06:26:45","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=792848"},"modified":"2024-10-01T08:26:50","modified_gmt":"2024-10-01T06:26:50","slug":"xiaomi-14t-global-launch-fuels-excitement-for-south-african-debut","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/792848\/xiaomi-14t-global-launch-fuels-excitement-for-south-african-debut\/","title":{"rendered":"Xiaomi 14T global launch fuels excitement for South African debut"},"content":{"rendered":"\n<p>Xiaomi has held its global launch of the highly anticipated Xiaomi 14T in Berlin \u2013 solidifying Xiaomi\u2019s position as a global leader in technology and innovation.<\/p>\n\n\n\n<p>The launch follows a remarkable Q2 2024 performance, where the company enjoyed robust growth across all key segments.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.mi.com\/global\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=October+2024\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to learn more about Xiaomi\u2019s products.<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>Quarterly revenue surged from R134.34 billion to R231.14 billion with an adjusted net profit of R15.2 billion and cash resources totalling R366.6 billion.<\/p>\n\n\n\n<p>A significant highlight of the past quarter is Xiaomi\u2019s Smart Electric Vehicle business, which achieved 27,307 global vehicle deliveries in Q2 2024.<\/p>\n\n\n\n<p>The company is on track to meet its full-year delivery target of 100,000 vehicles ahead of schedule by November.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Expansion and premiumization strategy<\/strong><\/h3>\n\n\n\n<p>Xiaomi\u2019s premiumization strategy continues to yield impressive results.<\/p>\n\n\n\n<p>The smartphone division hit a record high in revenue of R114.5 billion while performing 42.2 million smartphone shipments globally in Q2 2024.<\/p>\n\n\n\n<p>Premium smartphones accounted for 22.1% of total shipments, further advancing Xiaomi&#8217;s market position.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t-1024x576.jpg\" alt=\"\" class=\"wp-image-792856\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/t.jpg 1500w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>The brand has now ranked among the top three global smartphone brands for 16 consecutive quarters.<\/p>\n\n\n\n<p>Furthermore, the company&#8217;s smartphone shipments rank in the top three across 58 countries and in the top five in 70 countries and regions worldwide.<\/p>\n\n\n\n<p>Xiaomi now boasts a global market share of 14.6% &#8211; making it the fastest-growing brand in the top five regarding shipments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>South African performance<\/strong><\/h3>\n\n\n\n<p>In South Africa, Xiaomi continues its impressive growth.<\/p>\n\n\n\n<p>For Q2 2024, Xiaomi secured its position among the top three smartphone vendors, holding a 12%-unit share in the local market.<\/p>\n\n\n\n<p>With a remarkable 146% annual growth in South Africa, Xiaomi is establishing itself as a major player in the region, further building excitement for the local Xiaomi 14T debut.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/Xiaomi-ZA-Performance-e1727678583839.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"552\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/09\/Xiaomi-ZA-Performance-1024x552.png\" alt=\"\" class=\"wp-image-792854\"\/><\/a><\/figure>\n\n\n\n<p><strong>IoT and lifestyle<\/strong><\/p>\n\n\n\n<p>Xiaomi continues to break new ground in the IoT and lifestyle products segment and achieved global revenue of R65.9 billion.<\/p>\n\n\n\n<p>The company saw global tablet shipments increase by 106%, ranking 5th globally, while significant growth was also seen in smart large home appliances:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Air conditioner shipments exceeded 3.3 million units<\/li>\n\n\n\n<li>Refrigerator shipments surpassed 600,000 units<\/li>\n\n\n\n<li>Washing machine shipments exceeded 400,000 units<\/li>\n<\/ul>\n\n\n\n<p>The number of connected IoT devices on Xiaomi\u2019s platform reached 822 million, while users with five or more connected devices climbed to 16.1 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Strong internet services performance<\/strong><\/h3>\n\n\n\n<p>Xiaomi\u2019s internet services business also achieved strong profitability, with a record gross margin of 78.3%.<\/p>\n\n\n\n<p>Revenue from internet services totalled R20.4 billion, with overseas internet services generating R6.6 billion.<\/p>\n\n\n\n<p>The global monthly active users reached 676 million &#8211; an 11.5% year-on-year increase &#8211; while the monthly active users in mainland China grew by 10.1% to 164 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Looking ahead<\/strong><\/h3>\n\n\n\n<p>As Xiaomi prepares for the South African debut of the Xiaomi 14T, the company\u2019s performance in Q2 2024 sets the stage for continued global expansion and innovation.<\/p>\n\n\n\n<p>Xiaomi\u2019s commitment to growth and premiumization ensures a bright future as it pushes the boundaries of technology with its human, car, and home integration strategy.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.mi.com\/global\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=October+2024\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to learn more about Xiaomi\u2019s products.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Xiaomi has achieved incredible growth in Q2 of 2024 \u2013 and the Xiaomi 14T global launch has furthered excitement around the company.<\/p>\n","protected":false},"author":57,"featured_media":792852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[20571,20572,755,20573,117,7210],"class_list":["post-792848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-14t","tag-company","tag-growth","tag-iot-devices","tag-smartphones","tag-xiaomi"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/792848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=792848"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/792848\/revisions"}],"predecessor-version":[{"id":792861,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/792848\/revisions\/792861"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/792852"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=792848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=792848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=792848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}