Prime Highlights:
· Xiaomi posted its highest-ever quarterly income of CNY 116 billion ($15.9B), up 30.5% YoY, with net profit surging 75.4% to CNY 10.8 billion.
· The company shipped 42.4 million smartphones, retaining its position as the world’s third-largest smartphone maker, close behind Apple’s 44.8 million.
Key Facts:
· Net profit surged 75.4% to CNY 10.8 billion, marking the company’s third consecutive quarter above CNY 100 billion in revenue
· Xiaomi’s electric vehicle business delivered 81,302 cars in Q2 and crossed 300,000 cumulative deliveries within just five quarters of launch.
Background:
In the second quarter of FY26, Xiaomi had its highest earnings, and this was driven by its smartphone, electric vehicle department. The company has recorded an income of CNY 116 billion ($15.9 billion), a growth of 30.5% over the same time last year, with net profit up 75.4% to CNY 10.8 billion. The performance also marks the third quarter of over CNY 100 billion in revenues and a strong momentum of its core businesses.
Smartphone sales continued to lead Xiaomi’s earnings. The company shipped 42.4 million handsets in the quarter, retaining its position as the world’s third-largest smartphone maker. It was close to the Apple deliveries of 44.8 million during the same quarter. While total smartphone revenue fell 2.1% to CNY 45.5 billion, sales of premium models in China increased to 27.6% of domestic sales.
Xiaomi’s electric vehicle segment showed rapid progress. The firm delivered 81,302 cars in Q2 and crossed 300,000 cumulative deliveries just five quarters after launch. Deliveries in July alone topped 30,000 units. It currently operates a total of 335 EV stores in 92 cities in China.
Other product categories also saw gains. Tablet shipments climbed 42.3% to 3.1 million units, giving Xiaomi the fifth spot worldwide. In wearables, it maintained the top position for smart bands and ranked second for TWS earbuds. Home appliances performed strongly too, with air conditioner shipments rising more than 60% to 5.4 million units, alongside double-digit growth in refrigerators and washing machines.
Xiaomi increased its research and development spending by 41.2% in the quarter and has set a target of CNY 30 billion for the full year. Its investments are retargeted toward in-house chip development, electric vehicle technologies, and AI-powered consumer products.
