Xiaomi raises prices as global smartphone revenue hits record in Q2 2026

Xiaomi announced price increases of 300 to 500 yuan (about €38‑64) on flagship models in China, including the Xiaomi 17 series, REDMI K90 and REDMI Turbo 5. The hikes reflect a four‑fold rise in memory‑chip costs since early 2023, pushing the cost of 12 GB RAM + 512 GB storage configurations up by roughly 1,500 yuan.

A Counterpoint Research report shows the worldwide smartphone market generated $1.09 trillion in Q2 2026, a 7 % year‑on‑year growth driven by a 17 % rise in average selling price to $400. Apple captured a record 49 % revenue share, with its iPhone 17 series boosting quarterly revenue by 22 % and shipments by 13 %. Samsung held second place with a 16 % share, while Xiaomi experienced the steepest shipment decline among the top five brands, down 26 % and revenue falling 17 % despite a 13 % price increase.