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Xiaomi
2026-08-18 23:54:11

Xiaomi reports RMB 108.9 billion in Q2 revenue as premium phones lift ASP, while EV and AI unit stays in the red

Xiaomi posted 2026 second-quarter revenue of about RMB 108.9 billion, down 6.1% from a year earlier, while adjusted net profit fell 42.6% to roughly RMB 6.2 billion. The company’s core "smartphone x AIoT" segment generated RMB 84 billion with a 20% gross margin, and smartphone average selling price rose 25.9% year over year to RMB 1,351 as Xiaomi pushed further upmarket. Management said the premium push helped offset weaker handset shipments. According to Omdia data cited in the report, Xiaomi shipped 31.2 million smartphones globally in the quarter, ranking No. 3 worldwide for the 24th straight quarter. In mainland China, phones priced at RMB 3,000 and above accounted for 32.1% of Xiaomi’s total smartphone sales, a record high. New businesses kept expanding but remained loss-making. Xiaomi’s smart EV and AI segment reported revenue of RMB 24.9 billion, including RMB 23.9 billion from electric vehicles and about RMB 1 billion from AI-related emerging businesses. The segment posted an operating loss of RMB 2.6 billion in the quarter. Xiaomi CFO Alain Lam said AI is still in a heavy investment phase, and monetization is not the company’s main goal for now. The company also outlined a broad slate of product and technology updates, including HyperOS 4 Beta, Super XiaoAI 2.0, Xiaomi MiMo AI releases, and progress in robotics and self-developed chips.

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Xiaomi reports RMB 108.9 billion in Q2 revenue as premium phones lift ASP, while EV and AI unit stays in the red