Xiaomi reports 108,900 million RMB in Q2 2026 revenue

Xiaomi Corporation reported its consolidated results for the second quarter of 2026, recording total revenues of 108,900 million RMB. This represents a 9.9% increase compared to the previous quarter.

The company’s revenue streams are increasingly diversified. While smartphones remain a core business, generating 42,100 million RMB, they no longer represent the vast majority of total earnings. Currently, 61% of Xiaomi's revenue is derived from non-smartphone businesses. The breakdown includes IoT and lifestyle products (28.7%), electric vehicles, AI, and new initiatives (22.9%), and internet services (8.3%).

Despite the overall revenue growth, the company faces challenges regarding profit margins. Rising costs for memory components, specifically DRAM and NAND, have pressured the smartphone division. The surge in demand for AI servers has also contributed to higher component prices, with some memory chips increasing in cost by over 70% between the first and second quarters.