Xiaomi’s Q1 EV Deliveries Surpass 80,000 Units · TechNode
Higher memory costs and heavy electric vehicle investment cut Xiaomi’s first-quarter adjusted profit to 6.1 billion yuan, below analyst estimates.
- On Tuesday, Xiaomi Corp posted a 43% slump in first-quarter net profit, reporting 6.1 billion yuan adjusted profit as higher memory and component costs and domestic competition squeezed its smartphone business.
- Xiaomi's smartphone revenue fell 12.5% year-on-year to 44.3 billion yuan with gross margin dropping to 10.1%, while the company shipped 33.8 million units, down 19% and marking the steepest decline among top five global brands according to Omdia.
- EV operations generated a 3.1 billion yuan loss from heavy investment despite 19 billion yuan in EV revenue, up 5.1% year-over-year; quarterly deliveries dropped 44.3% to 80,856 units from 145,115 in the prior quarter.
- Xiaomi President William Lu said the industry must adapt to a "new normal" of higher memory costs, expected to narrow from the third quarter, as management outlined expansion in overseas markets to offset domestic pressures.
- Chinese automakers including Xiaomi are expanding into Europe, Latin America, the Middle East and Southeast Asia, where demand for lower-cost EVs has grown; the company plans European market entry in 2027.
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15 Articles
The global smartphone market is expected to be reshaped as rising semiconductor prices are compounded by increases in oil prices and logistics costs stemming from the war in the Middle East. While Apple and Samsung Electronics, which have focused on premium models, have found themselves in a relatively advantageous position amidst the crisis, forecasts suggest that the situation remains difficult for Xiaomi, which has held the third-largest spot…
Xiaomi’s Q1 EV deliveries surpass 80,000 units · TechNode
Xiaomi released its financial results for the first quarter of 2026 on Tuesday, reporting total revenue of RMB 99.1 billion ($13.8 billion). Revenue from its smart electric vehicle, AI, and other innovation businesses reached RMB 19.9 billion ($2.8 billion). Xiaomi’s R&D spending for the quarter totaled RMB 9 billion ($1.25 billion), up 33.4% year-on-year. The automotive business has become one of Xiaomi’s stable revenue drivers. In the first qu…
China's Xiaomi eyes overseas growth as costs, domestic competition ...
The Manila Times
China's Xiaomi Q1 profit sinks 43% on higher memory chip costs
BEIJING — China's Xiaomi Corp posted a 43 percent slump in first-quarter net profit on Tuesday, as its smartphone business was pressured by high memory chip costs.
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