Text|Small talk
Not long ago, Xiaomi released its earnings report for the first quarter of 2023. Suddenly, the digital technology circle is like the New Year, and the topics discussed are fresher than the other. Most people may be focused on Xiaomi smartphone sales, but I am more interested in these two figures.
"The number of connected IoT devices on the AIoT platform is 618 million"
"Global MIUI monthly active users exceeded 600 million"
According to the report, Xiaomi has gradually entered the best situation in the layout of the Internet of Everything. In November last year, Huawei announced that Hongmeng users exceeded 300 million, plus half a year of old machine upgrades and replacements, optimistic estimates are about 400-500 million. It can be estimated that Xiaomi still has an advantage in the number of ecosystem users.
What is the reason? The author believes that the main thing is that Xiaomi holds the following two advantages.
Redmi in its own right. Because Xiaomi has Redmi guarding the door of cost performance, it dares to let go of its hands and feet to cultivate the high-end. Under the leadership of Lu Weibing, Redmi's new products emerge endlessly, K series applauded and sold, a generation of magic machine Redmi 9A is the leader in the major sales lists, better than Apple, it can be seen that the domestic sinking market's recognition of Redmi is not generally high.
A comprehensive smart ecosystem. Since its establishment in 2013, the representative brand Mijia has achieved many remarkable achievements. Xiaomi's smart product line is very rich, including not limited to smart homes, wearable devices, or household appliances and travel tools, etc., specific products are TVs, air conditioners, refrigerators, cameras, lights, door locks, air purifiers, sweeping robots, rice cookers, etc., which can be said to cover all aspects of a person's normal life.
Then there is the continued growth of market share. According to the latest financial report, the smart home appliance business, Xiaomi's revenue increased by more than 60% year-on-year, and has grown year-on-year for five consecutive quarters, which is a very remarkable achievement. Xiaomi smart products have really entered every household. Of course, it is inseparable from Xiaomi's R&D spending on smart products, spending 4.1 billion yuan in the first quarter of 2023 alone, with year-on-year growth in the past three years. Xiaomi continues to increase investment in the research and development of smart ecology, and through research and innovative technology, it has brought users more convenient and efficient smart home solutions.
It is also worth mentioning its unique development ecology: for example, Mijia Ecology will actively cooperate with other brand companies, especially the cross-border linkage on the Xiaomi Youpin crowdfunding platform, and has launched many products with high market recognition. This bee-like ecological model has jointly promoted the innovation and development of the domestic smart home and Internet of Things equipment industry by building many cooperative enterprises, incubating and developing a number of start-ups, and cultivating many excellent brands.
Having said all this, in fact, I want to share with you a point of view: Xiaomi is not only a mobile phone brand, but also has achieved remarkable results in other smart technology products. As they have always emphasized, they hope that technology will change people's lives.