Xiaomi Reports 42.6% Decline in Q2 2026 Adjusted Net Profit Amid Rising Memory Costs
What happened
Xiaomi Corporation's Q2 2026 earnings revealed a significant profit decline amid rising memory chip costs and competitive pressures.
The Context
- Profit Decline: Xiaomi's net profit dropped 20.5% to 9.46 billion yuan, with adjusted net profit falling 42.6% to 6.2 billion yuan.
- Market Challenges: The company faced subdued demand in China and increased competition in consumer electronics and electric vehicles.
- EV Growth: Despite challenges, Xiaomi's electric vehicle segment generated 24.9 billion yuan in revenue, with 104,199 vehicle deliveries.
The Number
— This represents the decline in adjusted net profit for Q2 2026 compared to the prior year, highlighting the financial pressures facing the tech industry.
Takeaway
Management anticipates that memory cost increases may moderate in H2 2026, while continuing to emphasize EV expansion.
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Xiaomi Has Another Weak Quarter Amid Increased Memory Costs, Competition
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Xiaomi reports Q2 revenue down 6.1% YoY to ~$16.2B and net income down 21% to ~$1.4B, above est., amid a persistent memory shortage and weaker smartphone demand (Bloomberg)
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Xiaomi Profit Dives After Memory Crunch Worsens Downturn
Xiaomi Corp. posted its third consecutive profit decline, underscoring the heavy toll a persistent global memory shortage has taken on one of the world’s top smartphone makers.
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Xiaomi Profit Dives After Memory Crunch Worsens Downturn
Xiaomi Corp. posted its third consecutive profit decline, underscoring the heavy toll a persistent global memory shortage has taken on one of the world’s top smartphone makers.