Hong Kong and Beijing, May 26, 2026 – Xiaomi Group posted first-quarter revenue of RMB 99.1 billion, with adjusted net profit reaching RMB 6.1 billion, surpassing market expectations. Core operations, including smartphones and AIoT, saw operating profit nearly double quarter-on-quarter.
The company’s smartphone segment generated RMB 44.3 billion, with global shipments of 33.8 million units. Average selling prices hit a record high of RMB 1,310, supported by its high-end strategy and the launch of the Xiaomi 17 Max. Its electric vehicle and AI businesses delivered RMB 19.9 billion in revenue, up 6.9% year-on-year, with 80,856 vehicles delivered during the quarter.
Xiaomi’s IoT and lifestyle products recorded RMB 24.7 billion in revenue and a 25.2% gross margin, while R&D spending rose 33.4% to RMB 9 billion. The company announced plans to invest at least RMB 16 billion in AI this year to accelerate its “Human-Car-Home” ecosystem strategy.