Xiaomi Hits $16.2 Billion Revenue, Smartphone Selling Price Reaches Record High

Xiaomi reported a revenue of $16.2 billion for the second quarter of 2026, marking the highest smartphone selling price at $200 on record. The company's gross profit margin stood at 19.8% with an adjusted net profit of $919 million. Xiaomi's smartphones and AIoT businesses generated most of the revenue at $12.6 billion, which included $6.3 billion from smartphones and $4.7 billion from IoT and Lifestyle Products.

Premium smartphones accounted for 32.1% of all smartphones sold in Mainland China, a growing segment. Xiaomi's R&D spending increased significantly, with $3.7 billion invested this year and expected to surpass $5.9 billion for the full year. The company's MiMo-V2.5 large language model generated 10.5 trillion tokens, ranking first globally during that period.

Despite strong performance in wearables and true wireless stereo products, Xiaomi's smartphone shipments dropped by 26.3% compared to the same quarter last year, with a 11.5% market share globally.