Xiaomi Q1 2026 Revenue Hits RMB 99.1B, with Smart EV Sales at RMB 19.9B; SU7 and YU7 Lead Segment

In the first quarter of 2026, Xiaomi Corporation reported total revenue of RMB 99.1 billion and adjusted net profit of RMB 6.1 billion. Revenue from innovative businesses, including smart electric vehicles (EVs) and AI, reached RMB 19.9 billion, with 80,856 new EVs delivered. The Smartphone × AIoT segment generated RMB 79.3 billion in revenue, of which smartphone revenue amounted to RMB 44.3 billion. Xiaomi maintained its position among the top three global smartphone vendors for the 23rd consecutive quarter, with its global average selling price (ASP) rising 8.2% year-over-year to a record high. Revenue from IoT and lifestyle products reached RMB 24.7 billion, driven by double-digit growth in overseas markets; international IoT revenue approached RMB 10 billion, also setting a new record. Internet services revenue totaled RMB 9.5 billion, up 4.3% year-over-year. The Xiaomi SU7 ranked first in sales among pure-electric sedans priced above RMB 200,000, while the YU7 secured second place in the SUV segment. On May 21, Xiaomi launched two new models—the YU7 Standard and the YU7 GT—of which the YU7 GT set a new lap record for SUVs on the Nürburgring Nordschleife, becoming the fastest SUV ever on that track. Concurrently, Xiaomi officially established its European Automotive R&D Center, advancing the global expansion of its automotive business. In Q1, the company’s R&D expenses reached RMB 9 billion, an increase of 33.4% year-over-year, with significant investment directed toward full-stack AI technology development and real-world application deployment.