2022年，小米在高端智能手机方面取得里程碑式发展。2022年7月，小米推出首款同时搭载澎湃G1、澎湃P1两颗自研芯片的Xiaomi 12S Ultra，实现一英寸大底和徕卡影像审美的完美结合，为无数影像爱好者提供全新的移动影像体验。2022年8月，小米推出新一代折叠屏旗舰Xiaomi MIX Fold 2，重新定义折叠屏极致轻薄体验，实现多项技术突破，引领折叠屏手机新的技术方向和产品体验。两款高端机型在生命周期内坚定执行高端稳价策略，保障高端用户体验的同时也保证了高端手机毛利率水平，为小米高端进阶奠定坚实基础。
作为高端探索三年的答卷之作，小米携手徕卡打造Xiaomi 13系列，升级高端影像体验，搭配全新MIUI14系统，流畅体验提升60%。Xiaomi 13系列一经发布连续7周霸榜中国大陆市场安卓阵营智能手机出货量人民币4000-6000元价位段第一。2023年3月，小米13系列国际版发售，备受海外市场关注。
在Xiaomi品牌向上冲击高端的同时，Redmi品牌持续巩固大众市场，带动小米智能手机业务整体健康发展。2022年，推出品牌首部无线充电机型Redmi K60系列，全系搭载高通旗舰处理器，首销5分钟销量超30万台。据Canalys数据，Redmi Note 11也成为唯一上榜2022年全球智能手机出货量TOP 10的国产手机。
除为用户提供高质量产品之外，小米还重视技术革新及成果转化，用想象力开拓行业边界。2023年2月，小米推出Xiaomi Book 12.4二合一，凭借全面功能、简约外型与触控笔配置，荣获2022年红点产品设计大奖。米家空调在2022年也获得9项行业技术大奖，3个德国红点设计奖和1个美国IDEA设计奖。
小米推出全新升级MIUI14系统，AIoT产品发现速度提升50%，传输速度提升77%，互联互通体验优化升级。同时小米发布Xiaomi Watch S2智能手表和Xiaomi Buds 4半入耳式降噪耳机，进一步强化品类间的协同融合。根据Canalys数据，2022年，小米在中国大陆地区可穿戴腕带设备和TWS耳机出货量排名中均位列第二。
Xiaomi achieves 280 billion yuan revenue in 2022，progress in steadyly
On March 24, 2023, Xiaomi Group announced its 2022 annual results, achieving total revenue of RMB 280 billion, adjusted net profit of RMB 8.5 billion, expenses of RMB 3.1 billion for innovative businesses such as smart electric vehicles, and annual R&D expenditures of RMB 16 billion, with a 5-year R&D compound growth rate of 38.4% in 2022. The proportion of R&D staff further expanded to nearly 50% of the total number of employees.
In the face of a volatile global macro environment in 2022, Xiaomi, with strong strategic execution determination and continuous optimization of operational efficiency, withstood multiple external tests and achieved sound development of all businesses, while actively investing in technological innovation and leading future development with technology.
Against the backdrop of global cell phone demand being suppressed by peripheral factors, Xiaomi’s global smartphone shipments remain third at 150 million units in 2022, with smartphone ASPs achieving three consecutive years of growth. Based on the huge and stable global market scale, Xiaomi has made new upgrades in product concept and user experience, and the high-end smartphone business has gained breakthrough development with remarkable results. 2022, Xiaomi cooperated with Leica to launch a number of high-end models, reaping double growth in sales and word-of-mouth, among which, the Xiaomi 13 series was warmly received upon its release, driving Xiaomi to achieve 7 consecutive weeks China in the RMB As of January 12, 2023, the series has received over 99% positive reviews in Jingdong.
As high-end competitiveness continues to improve, Xiaomi’s global monthly active smartphone users are once again at an all-time high. As of December 2022, the number of global MIUI monthly active users increased by 14.4% year-on-year to 582 million, continuing the continuous growth trend.
As a pioneer in the smart era, Xiaomi has built smart scenarios closely around users, formed the world’s leading consumer-grade IoT platform, and created a rich and colorful life with digital technology. As of December 31, 2022, the number of connected devices (excluding smartphones, tablets and laptops) on Xiaomi’s AIoT platform reached a record high of 589 million.
Benefiting from the strength of the business ecosystem and accurate digital operation management, Xiaomi’s Internet revenue maintained a healthy growth momentum. 2022 Xiaomi Internet service revenue reached RMB 28.3 billion. Among them, revenue from overseas Internet business reached RMB 6.8 billion, a strong 35.2% year-on-year improvement, and Q4 revenue reached RMB 1.9 billion, another record high. The advertising and gaming business also broke through the market declines and rose steadily, with revenues reaching RMB 18.5 billion and RMB 4.1 billion respectively in 2022.
Technology innovation is fundamental to Xiaomi’s survival and development. Xiaomi is firmly committed to technology investment, with R&D spending growing for four consecutive years and actively laying out multiple fields such as smartphones, smart cars and robotics, with total R&D investment expected to exceed RMB 100 billion over five years (2022-2026). With talent as the foundation of technological innovation, Xiaomi actively embraces talent and establishes a comprehensive talent incentive mechanism to encourage innovation and exploration. By the end of 2022, Xiaomi will have nearly half of its R&D staff, and will hold the Million Dollar Technology Award for four consecutive years.
High-end upgrade to stimulate growth dynamics. Global smartphone ASP grows for third consecutive year
Since 2022, the global economy has experienced a larger-than-expected downswing, continuing to weaken market spending power, with global economic growth expected to slow from 6.2% in 2021 to 3.4% in 2022, according to the IMF. The global smartphone market has also continued its decline, with Canalys data showing that global smartphone shipments fell 11.7% year-on-year in 2022, reaching a nine-year low.
Xiaomi, with the advantages of localized operations in global markets and a good marketing structure system, is free from the risks associated with fluctuations in a single market to ensure the long-term high competitiveness of its business. According to Canalys data, in 2022, Xiaomi ranked in the top three in 54 countries and regions worldwide and in the top five in 69 countries and regions worldwide in terms of smartphone shipments, with annual smartphone business revenue of RMB 167.2 billion.
In 2022, Xiaomi achieved milestones in high-end smartphones. in July 2022, Xiaomi launched the first Xiaomi 12S Ultra equipped with both the Surge G1 and Surge P1 self-developed chips, achieving the perfect combination of a one-inch outsole and Leica imaging aesthetics, providing a new mobile imaging experience for countless imaging enthusiasts. in August 2022, Xiaomi launched a new generation of Folding screen flagship Xiaomi MIX Fold 2, redefining the ultimate thin and light experience of folding screen, achieving a number of technical breakthroughs and leading the new technical direction and product experience of folding screen cell phones. Two high-end models in the life cycle of the firm implementation of high-end stable price strategy, to ensure high-end user experience at the same time to ensure the level of high-end cell phone gross margin, for Xiaomi high-end progression to lay a solid foundation.
As the answer work of high-end exploration for three years, Xiaomi joins hands with Leica to create Xiaomi 13 series, upgrading high-end image experience, with the new MIUI14 system, the smooth experience is improved by 60%. once released, Xiaomi 13 series dominated the Android camp smartphone shipments in China market for 7 consecutive weeks RMB 4000-6000 price segment No. 1. in March 2023, the Xiaomi 13 series international version on sale, much attention in overseas markets.
According to third-party data, in Q4 2022, Xiaomi ranked first in the price range of RMB 3,000-4,000 and second in the price range of RMB 4,000-5,000 in the Chinese mainland market.
The continued tamping of high-end has pulled Xiaomi’s smartphone ASP to break through to new highs, with smartphone ASP reaching RMB 1,111 in 2022, with Q4 Xiaomi’s smartphone ASP in China growing by over 14% year-on-year.
As the economy continues to recover, Xiaomi’s offline retail business is gradually picking up. Through flexible adjustments in retail strategy, Xiaomi Home achieves deeper reach of user experience for high-end products and stimulates Xiaomi’s growth dynamics. As of February 28, 2023, the offline channel has cumulatively contributed 55% of sales for the Xiaomi 13 series, with significant improvement in channel operational efficiency.
While the Xiaomi brand is pushing up the high-end, the Redmi brand continues to consolidate the mass market and drive the overall healthy development of Xiaomi’s smartphone business. 2022 saw the launch of the brand’s first wireless charging model, the Redmi K60 series, which is fully equipped with Qualcomm’s flagship processor and sold over 300,000 units in the first five minutes of sales. According to Canalys data, Redmi Note 11 also became the only domestic phone to make the list of Top 10 global smartphone shipments in 2022.
Leading industry change with technology power, Offshore Internet revenue reaches new high
The financial results show that Xiaomi IoT and consumer lifestyle products revenue reached RMB 79.8 billion in 2022, including RMB 21.4 billion in Q4, achieving a 12.5% YoY growth. As of December 31, 2022, the number of connected devices (excluding smartphones, tablets and laptops) on Xiaomi’s AIoT platform grew 35.8% YoY to 589 million; the number of users with 5 or more devices (excluding smartphones, tablets and laptops) connected to the AIoT platform grew 32.5% YoY to 11.6 million.In December 2022, Xiaomi Classmates and Mi Home App achieved 7.1% and 18.6% year-on-year growth in monthly active users to 115 million and 75.8 million, respectively.
Based on the persistence of creating value for users and promoting the diversified integration of scenarios in the smart era, Xiaomi accelerated the expansion of intelligent space. 2022 Xiaomi shipped 12.4 million smart TVs globally, and the annual revenue of smart large home appliance products grew over 40% year-on-year, including air conditioner shipments grew over 50% year-on-year, refrigerator shipments grew nearly 100% year-on-year, while washing machine products in 2022 Q4 shipments grew by more than 39% YoY.
And in the office, home entertainment and other areas, Xiaomi tablet shipments for the year grew more than 160% year-on-year, Q4 shipments in China is a single quarter record high. According to Canalys data, Xiaomi tablet in China in 2022 to rank third in market share, the leading edge continues to release.
In February 2023, Xiaomi launched Xiaomi Book 12.4 2-in-1, which won the 2022 Red Dot Product Design Award for its comprehensive functionality, minimalist appearance and stylus configuration. Mi Home Air Conditioner also won 9 industry technology awards, 3 German Red Dot Design Awards and 1 US IDEA Design Award in 2022.
Xiaomi launched the new upgraded MIUI14 system, with a 50% increase in AIoT product discovery speed, 77% increase in transmission speed, and optimized and upgraded interconnection experience. Xiaomi also released Xiaomi Watch S2 smartwatch and Xiaomi Buds 4 semi-in-ear noise cancelling headphones to further strengthen the synergistic integration between categories. According to Canalys data, in 2022, Xiaomi ranked second in both wearable wristband devices and TWS headphones shipments in China.
The synergy between channel layout and product structure was further deepened, and Xiaomi’s offline channel GMV of AIoT products improved by over 27% year-on-year in 2022, maintaining a good growth trend.
Commercial operation efficiency continues to improve Overseas Internet revenue reached another record high
Xiaomi’s Internet business continued its impressive market performance in 2022, with annual revenue reaching RMB 28.3 billion and another breakthrough growth in the number of MIUI monthly active users in both the global and China markets. The number of new users also continued to expand in 2022, with net new MIUI monthly users of 73.3 million and 13.8 million globally and in China, respectively.
By building a quality Internet service ecosystem with global partners, Xiaomi’s overseas Internet business maintained rapid growth, with full-year revenue reaching RMB 6.8 billion, up 35.2% year-on-year. In Q4, Xiaomi’s overseas Internet service revenue increased by 19.4% year-on-year to RMB1.9 billion, a record high, and the proportion of the overall Internet service revenue increased to 26.1% at the same time.
In the face of the overall industry downturn, Xiaomi’s global advertising and gaming revenue still achieved sustained healthy development. Among them, the annual revenue of advertising business reached RMB 18.5 billion, and the revenue of advertising business in Q4 was RMB 4.7 billion. With the support of high-end strategy and efficient operation, the game business also rose against the trend, achieving RMB 4.1 billion, up 4.4% year-on-year. Q4 revenue of Xiaomi’s game business reached RMB 1 billion, and has improved year-on-year for six consecutive quarters.
Xiaomi always focuses on user needs and provides diversified products and services to users. 2022, Xiaomi’s TV value-added service revenue in China grew over 25% year-on-year. Under the continuous optimization of operation management, the number of smart TV global monthly active users exceeded 58 million in December 2022, and the scale of TV Internet paid users increased to 6 million.
Increase investment in technological innovation Improve quality and efficiency to focus on long-term development
As the key to Xiaomi’s development, technological innovation has always been the focus of Xiaomi. 2022, Xiaomi continues to invest in technology R&D, with R&D expenditure of RMB 16 billion, a five-year CAGR of 38.4%, and expects total R&D to reach over RMB 100 billion in five years (2022-2026). As of December 2022, the proportion of R&D staff in the total number of employees increased to nearly 50%.
Benefiting from this, Xiaomi’s innovative technologies are fruitful and show the hard power of science and technology. 2022, in the field of bionic robot, Xiaomi’s first full-size humanoid bionic robot CyberOne was officially unveiled; in the field of battery technology, Xiaomi released a new self-research Surge G1 chip, while announcing pre-research solid-state battery technology to improve charging experience and enhance battery performance; in the field of imaging, Xiaomi joined hands with Leica to In the field of imaging, Xiaomi teamed up with Leica to launch in-depth joint research and development and upgrade the imaging strategy; in the field of new display, Xiaomi launched a wireless AR glasses exploration version, self-researched micro gesture interaction, smooth experience and smooth application.
In the intelligent electric car, Xiaomi give full play to its innovative advantages to open up new growth space. 2022, intelligent electric cars and other innovative business expenses invested in RMB 3.1 billion, the size of the automotive business team of about 2,300 people, Xiaomi car continue to maintain the first half of 2024 mass production target.
Xiaomi’s technological strength has also been recognized by the international market. In October 2022, Xiaomi was selected as one of the “Top 50 Most Innovative Companies in the World in 2022” by the Boston Consulting Group (BCG), once again confirming Xiaomi’s practical practice of technology-based business.
In 2023, the stable economic policy will be gradually implemented, the market economy will fully recover, and the restoration of the consumer scene will be accelerated. Xiaomi is aiming for a higher level of development and has launched a new business strategy of “placing equal emphasis on scale and profit”, while establishing a Group Management Committee and a Group Human Resources Committee to synchronize and optimize the strategic structure, operational management and resource allocation, focus on improving quality and efficiency, and promote the construction of a professional long-term business governance system. The headwind factors brought by the macro environment will gradually ease in the future, and consumer demand and the vitality of science and technology innovation will continue to be released. As Xiaomi promotes the implementation of innovative businesses, continued scientific and technological research and improvement of operational governance model, the company is expected to accelerate into a new round of upward development cycle.