SINGAPORE, Oct. 23, 2023 /PRNewswire/ -- On October 20th, Xiaomi Internet Partner Conference (MIPC Singapore 2024) successfully concluded its proceedings in Singapore. The event garnered the participation of over 300 leading partners and developers from more than 30 countries.
During the conference, Ms. Liu Chan, General Manager of Xiaomi Internet Business Department, introduced the 2024 International Internet Partner Growth Strategy, titled 'Grow with Xiaomi.' This strategic initiative harnesses Xiaomi's core on-device competencies as a smartphone manufacturer to fully embrace global partners, jointly establishing a preeminent ecosystem for app and game distribution, content delivery, user growth, and monetization services. The ultimate objective is to deliver an exceptional mobile internet service experience to users.
The Xiaomi international Internet business team delivered in-depth presentations on Xiaomi's global internet services at the conference, which involves its global expansion in key areas including app and game distribution, game publishing, content services, user growth, monetization, and payment solutions. During the event, Xiaomi unveiled three core services: "Global IAP Games Joint Operation", "Instant Web" and the "Columbus Monetization Platform." These announcements garnered enthusiastic acclaim from the conference attendees.
In the realm of apps and games distribution, Xiaomi's official app store, GetApps, has expanded its reach to over 60 global markets, boasting a monthly active user base exceeding 260 million. GetApps has also introduced several innovative features and services, supporting apps & game distribution through short videos and launching an AI-powered app recommendation assistant. During this conference, Xiaomi's app store officially announced the introduction of the Global IAP Games Joint Operation service, aimed at helping developers acquire high-value users and rapid revenue growth with minimal customer acquisition costs. Additionally, Xiaomi has unveiled a fresh upgrade to the "Voyage Project", supporting 100 apps and games, each set to benefit from over 10 million downloads on Xiaomi devices.
In the domain of content distribution, Xiaomi has introduced an extensive content service ecosystem that spans multiple devices, providing diverse content through various touch points. This ecosystem includes features like lock screen posters, -1 screen, Web browser, Mi Video, H5 games, and more. By harnessing Xiaomi's core on-device competencies as a smartphone manufacturer, Xiaomi caters to an extensive user base and generates significant revenues for its partners. Particularly noteworthy is Xiaomi's latest proprietary web acceleration framework, "Instant Web," capable of boosting webpage loading speeds by a factor of eight, achieving nearly instantaneous loading times with wide-ranging applications.
In terms of monetization, Xiaomi's user growth platform capitalizes on the advantages of being a smartphone manufacturer, leveraging its on-device capabilities to address pain points for advertisers and achieve a high return on investment (ROI) in the industry. This platform employs smartphone OEM-specific solutions with benefits from system-level support, operates seamlessly across devices, and uses AI to enhance user growth. During the event, Xiaomi officially introduced the Columbus Monetization Platform, which supports flexible integration, diverse budget options, and real-time bidding, thereby maximizing the attainable commercial value for the developers.
In recent years, Xiaomi's overseas Internet business has maintained rapid growth and continues to exhibit significant growth potential. According to Xiaomi Corporation's Q2 2023 quarterly results, the revenue from Xiaomi's internet services reached RMB 7.4 billion in that quarter, marking a historical high, with a gross profit margin of 74.1%. Notably, overseas Internet revenue grew by 19.7% year-over-year, reaching RMB 2 billion, also a historical high, with overseas Internet revenue accounting for 26.8% of the overall Internet revenue.
Regarding this growth, Ms. Liu Chan stated, "Our sustained growth hinges on our collective effort to continuously create value for all participants in the Xiaomi internet services ecosystem, including our users, partners, and suppliers. It is through this collective engagement that the entire internet ecosystem thrives. We look forward to establishing and deepening collaborations with both new and existing partners to explore new mutually beneficial ways and share the fruits of our global market successes with every industry partner, ultimately enhancing how mobile Internet and digital technology serve our society and every individual."
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.
With an equal emphasis on innovation and quality, Xiaomi continuously pursues high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.
As of the second quarter of 2023, Xiaomi ranked among the top 3 in the global smartphone market, in terms of smartphone shipments, according to Canalys. The company has also established the world's leading consumer AIoT (AI+IoT) platform, with 654.5 million smart devices connected to its platform, excluding smartphones, tablets and laptops, as of June 30, 2023. Xiaomi products are present in more than 100 countries and regions around the world. In August 2023, the company listed as Fortune Global 500 for the 5th consecutive year.
Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.
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