Xiaomi Air Conditioner Sales in China Soar by 63% in Q1 2024

China: Xiaomi has reported a 63% year-on-year increase in air conditioner sales for the first quarter of 2024, shipping 690,000 units. This surge is part of a broader trend of rapid growth in Xiaomi’s air conditioner business, which entered the market in 2021. The company has consistently achieved high growth rates, with shipments exceeding 4.4 million units in 2023. Projections for 2024 suggest Xiaomi could ship over 7 million air conditioners, potentially making it the third-largest player in the market. This success is attributed to Xiaomi’s focus on innovation, competitive pricing, and smart home integration, positioning air conditioners as a key revenue generator in its IoT portfolio. 

Source: GizmoChina