Xiaomi pulled in INR 139,532.8 crore in revenue for Q1 2026, ending March 31. Net profit? INR 8,588.8 crore. The numbers are up across the board, smartphones, EVs, and IoT products all saw growth.
Key Takeaways
- Total Q1 2026 revenue stands at INR 139532.8 crore.
- Smartphone segment generated INR 62374.4 crore.
- Smart electric vehicle and AI divisions brought in INR 28019.2 crore.
- Research and development spending rose 33.4% year-over-year to INR 12672 crore.
Smartphones still make up a big chunk of Xiaomi’s business. They brought in INR 62,374.4 crore this quarter. Shipments hit 33.8 million units worldwide. Xiaomi held onto its top-three spot for global shipments for the 23rd quarter in a row. The average selling price climbed 8.2% year-over-year, now at INR 18,444.8. Premium models—those at or above INR 42,240—accounted for 23.5% of all units sold in China. Oh, and in May, Xiaomi rolled out the 17 Max to round out its flagship lineup.
EVs and AI are picking up speed for Xiaomi
That segment grew 6.9% over last year. They delivered 80,856 vehicles in Q1. The new SU7? Demand was high—over 80,000 locked-in orders right out of the gate. In May, Xiaomi added the YU7 Standard Edition and YU7 GT to the lineup. The YU7 GT clocked a 7:22.755 lap at Nürburgring Nordschleife. Not bad. Xiaomi also opened 490 smart EV sales centers in 143 Chinese cities by the end of March.
AI is getting a big push. Xiaomi plans to spend at least INR 22,528 crore on it this year. In April, they released the open-source MiMo-V2.5 models. The Xiaomi AI Assistant hit 169.3 million monthly active users in March. And just for fun, they put their humanoid robot to work in the EV factory for some hands-on training.
IoT and Internet Services
Revenue from IoT and lifestyle products reached INR 34777.6 crore, maintaining a gross profit margin of 25.2%. The company maintained its position in the wearable market, ranking third globally for band devices. Tablet shipments ranked in the top five globally for the 8th consecutive quarter. True wireless stereo earbuds took the second spot for shipments globally. The company launched the Xiaomi Smart Band 10 Pro and its first clip-on earbuds in May 2026. Internet services revenue grew 4.3% year-over-year to INR 13376 crore. By March 2026, the total number of connected IoT devices on the platform hit 1,118.7 million. Monthly active users in the Chinese Mainland reached 195.8 million.
FAQs
Q1. How much revenue did Xiaomi report in Q1 2026?
A1. Xiaomi reported a total revenue of INR 139532.8 crore in the first quarter of 2026.
Q2. How many electric vehicles did Xiaomi deliver in the first quarter?
A2. Xiaomi delivered 80,856 electric vehicles during the first quarter of 2026.
Q3. What is the current average selling price of a Xiaomi smartphone?
A3. The global average selling price for Xiaomi smartphones reached INR 18444.8 in Q1 2026.
Q4. How much is Xiaomi investing in AI in 2026?
A4. Xiaomi plans to invest at least INR 22528 crore in artificial intelligence this year.
