Xiaomi lifts 2026 smartphone shipment target to 110 million units amid market shifts

Xiaomi announced that it has raised its 2026 smartphone shipment target from about 90 million to 110 million units, a 16 % increase. Supply‑chain sources say most of the extra volume will come from entry‑level models, as the company expects memory‑chip prices to fall after a period of sharp increases that pushed component costs above 30 % of a sub‑$200 phone’s bill of materials. The revision follows two earlier downward adjustments from an initial 170 million‑unit goal.

In China, Counterpoint Research reported that total smartphone shipments fell 2 % year‑on‑year in Q2 2026, with brands trimming mid‑range output to focus on higher‑margin models. Huawei held 23 % market share, its strongest since Q4 2020, and grew shipments 24 % year‑on‑year, while Apple’s shipments rose 23 %. A separate CNMO analysis of weekly flagship sales through week 28 showed Apple leading the domestic high‑end market with 19.3 × the sales of the benchmark brand Honor, and Huawei in second place with 10.9 ×.

Globally, Counterpoint forecasts a 21 % year‑on‑year rise in foldable‑screen phone shipments for 2026. Apple is expected to capture 25 % of this segment in its first year, Huawei 24 %, and Samsung’s share to fall to about 32 %.

India’s smartphone market contracted sharply, with Omdia noting a 13 % year‑on‑year drop to 33.9 million units in Q2 2026, the steepest decline in three years, driven by rising memory costs, a weaker rupee and softer consumer demand.