Xiaomi‘s air conditioner business is blowing hot! The tech giant has seen explosive growth in this category, capturing a significant chunk of the market in just a few years.
According to a report by CNMO, Xiaomi air conditioners are a top seller, especially with JD deliveries reporting 7 out of 10 delivered units being from the brand. This is a major leap from just 2 out of 10 last year, showcasing a dramatic rise in Xiaomi’s popularity.
Xiaomi Air Conditioners See Unprecedented Growth, Outpacing Competitors in JD’s 618 Sales Event
Xiaomi secured the number 3 spot in online air conditioner sales during the recent 618 shopping festival, surpassing established names like Haier and Aux. Additionally, the company shipped a record-breaking 78,000 units in a single day.
Xiaomi is even competing head-to-head with established air conditioner giants like Midea and Gree, with three of their models ranking in the top ten for cumulative sales in the fresh air conditioner and large hanging air conditioner segments.
Xiaomi’s strategy goes beyond just sales. They’ve impressed customers with their commitment to after-sales service, offering immediate installation within 10 minutes of delivery.
This impressive rise started in 2021 when Xiaomi entered the air conditioner market. Since then, they’ve witnessed exponential growth, with shipments exceeding 2 million in the first year alone. This growth has been consistent, reaching 4.4 million units in 2023. In the first quarter of 2024, the company shipped 690,000 air conditioners, achieving an impressive 63% year-on-year growth.
The momentum is expected to continue, with projections indicating over 7 million units shipped in 2024. This would solidify Xiaomi’s position as the third-largest player in the online market, potentially reaching the top spot across all channels.
Analysts predict even greater dominance in the future. By 2026, air conditioner shipments are expected to surpass Xiaomi TVs, traditionally a leading product in their IoT portfolio. This shift positions air conditioners as the top revenue generator for Xiaomi’s smart home business, highlighting their growing importance within the company’s strategy.
(Source)
