Xiaomi Hits $16.2 Billion Revenue, Smartphone Selling Price Reaches Record High

Xiaomi documented revenue of $16.2 billion for the second quarter of 2026.

Key points

• The firm shipped 31.2 million smartphones during Q2 2026, giving it an 11.5% share of the global market.
• Xiaomi's Smart EV, AI and Other New Initiatives division generated $3.7 billion, with a gross profit margin of 19.2%.
• Xiaomi shipped 8.4 million smartphones in the region during Q2 2026, giving it a 14.2% market share.
• That compares with 10.3 million units and a 14.4% share in Q1 2026.
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Xiaomi documented revenue of $16.2 billion for the second quarter of 2026. The firm recorded a gross profit margin of 19.8% and adjusted net profit of $919 million. Xiaomi's smartphone Average Selling Cost (ASP) climbed to a record $200.

Premium smartphones additionally accounted for a growing share of Xiaomi's sales in Mainland China. Premium models represented 32.1% of all Xiaomi smartphones sold in the market during the quarter. Redmi Launches New Budget Smartphone Series Starting With M100.

Most of Xiaomi's revenue came from its smartphone and AIoT businesses. It generated $12.6 billion during the quarter. The division posted a gross profit margin of 20.0%.

Meanwhile, Xiaomi's Smart EV, AI and Other New Initiatives division generated $3.7 billion, with a gross profit margin of 19.2%. Nevertheless, the EV business recorded a loss during the quarter.

Within the smartphone and AIoT segment, smartphones alone generated $6.3 billion in revenue. IoT and Lifestyle Products contributed another $4.7 billion. New Leak Shares Bad News for Xiaomi, Vivo, Oppo Ultra Phones. Xiaomi Increases Spending on R&D and AI.

Xiaomi continues to invest heavily in Research and Development. The firm has already spent $3.7 billion on R&D this year and expects total spending to exceed $5.9 billion for the full year. R&D employees now account for 47.2% of Xiaomi's workforce.

Part of that investment is going into AI model development. Xiaomi's MiMo-V2.5 sizeable language model generated 10.5 trillion tokens during the week beginning July 20, placing it first globally during that period.

Notably, the model is additionally a major part of HyperOS 4. The operating system is at present in beta and will introduce advanced memory preloading. Xiaomi notes it will additionally reduce dropped frames during video playback by 28.9%.

Xiaomi remains the world's third-largest smartphone manufacturer, a position it has held for 24 consecutive quarters.

Notably, the firm shipped 31.2 million smartphones during Q2 2026, giving it an 11.5% share of the global market. Nevertheless, shipments fell 26.3% compared with the same quarter last year.

Xiaomi ranked among the top three smartphone brands in most major regions. It ranked second in Latin America, the Middle East and Southeast Asia, and third in Europe and Africa. In India, Xiaomi ranked fourth.

Sales in Mainland China additionally declined. Xiaomi shipped 8.4 million smartphones in the region during Q2 2026, giving it a 14.2% market share.

That compares with 10.3 million units and a 14.4% share in Q1 2026. In Q2 2025, the firm shipped 11.5 million units and held a 16.8% market share. Redmi 17 5G Launches With Familiar Design and Specs For $150.

Xiaomi ranks fourth in the tablet market both globally and in Mainland China. The firm shipped 2.8 million tablets during the quarter, representing a 6.8% decline.

Xiaomi continues to perform strongly in wearables and true wireless stereo (TWS) products. It ranks second globally and in Mainland China in both categories.

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Taken together, the developments around xiaomi Hits $16.2 Billion Revenue, Smartphone Selling Price Reaches Record High point to a situation that is still moving, and the coming days should bring more clarity.