Xiaomi’s Q1 Adjusted Profit Hits 61 Billion RMB, Smartphone ASP Jumps 8.2% to a New Record

On May 26, Xiaomi Group (HK01810) dropped its first-quarter earnings report for 2026. And the numbers? Pretty solid. Revenue for the quarter came in at 99.1 billion RMB, with adjusted net profit hitting 6.1 billion RMB. Core business operating profit nearly doubled compared to the previous quarter. The smartphone × AIoT segment brought in 79.3 billion RMB. Xiaomi’s smartphone shipments have now been in the global top three for 23 straight quarters, and the global average selling price climbed 8.2% year-over-year, setting a brand new high. Over on the innovative side—smart EVs and AI—that segment pulled in 19.9 billion RMB, up 6.9% from a year ago.