Sandalwood estimates Xiaomi Total Revenue y/y to accelerate in 2Q24 vs. 1Q24, above consensus.
China Revenue y/y and Cellphone revenue y/y are expected to stay strong in 2Q24. both above consensus, thanks to strong Mi 14 and Mi 13 sales during 6.18, and EV deliveries.
China Auto Insurance data indicates that Xiaomi has delivered 27,183 vehicles in 2Q24.
Xiaomi announced the start of operations at its new self-owned smartphone smart factory in Beijing, with an annual production capacity of 10 million smartphones.