Xiaomi profit drops 42.6% in Q2

Chinese company Xiaomi reported a 42.6% decline in its net profits for the second quarter of 2026, reaching 6.2 billion yuan ($919.5 million), impacted by rising component costs, especially memory chips. Its revenue stood at 108.9 billion yuan, compared to expectations of 112.2 billion yuan, amid ongoing pressures on profits due to increasing expenses. The company continues to expand its activities in electric vehicles, which has become a key focus of its growth strategy, achieving its first operating profit in this sector in mid-year. Xiaomi will hold an investor conference on August 18 to review its financial and operational performance for the first half of 2026.

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