Xiaomi Statistics 2026
By Axis Intelligence Research
Co-author: Alex Rivera | Last updated: August 5, 2026 | License: CC BY 4.0
Xiaomi generated RMB457.3 billion in 2025 revenue and RMB99.1 billion in the first quarter of 2026 — its first quarterly revenue decline since 2022, down 10.9% year-over-year. Smartphone shipments fell 19.2% in Q1 and 26% in Q2 as memory costs repriced the entry tier. Cars, not phones, now carry the growth.
Quick Answer
Xiaomi Corporation (HKEX: 1810) reported RMB457.3 billion in total 2025 revenue, up 25.0% year-over-year, with adjusted net profit of RMB39.2 billion. In Q1 2026, revenue fell 10.9% to RMB99.1 billion — the first year-over-year decline in fourteen quarters — as global smartphone shipments dropped to 33.8 million units. Axis Intelligence Research calculates that smartphone hardware supplied 44.7% of Xiaomi’s Q1 2026 group revenue, down from 52.4% in 2024, giving a Smartphone Dependence Index (SDI) reading of 44.7 as of March 31, 2026. Xiaomi delivered 411,082 electric vehicles in 2025 and 185,055 in the first half of 2026 — 33.6% of its 550,000-unit annual target.
Key Findings
- According to Axis Intelligence Research, Xiaomi’s Smartphone Dependence Index fell from 52.4 in 2024 to 40.8 in 2025 — the fastest single-year revenue de-concentration by any top-five smartphone vendor.
- Axis Intelligence Research finds Xiaomi’s Q1 2026 smartphone average selling price of RMB1,310 equals roughly one-third of IDC’s record global industry ASP forecast of US$550 for 2026.
- Xiaomi shipped 65.0 million smartphones in the first half of 2026 against 84.2 million a year earlier — a 22.8% decline, per Axis Intelligence Research analysis of Omdia quarterly data.
- Axis Intelligence Research finds Xiaomi must average 66,989 vehicle deliveries per month from August through December 2026 to reach its 550,000-unit target — 1.33 times its best month on record.
- Xiaomi entities filed 867 industrial designs under the Hague System in 2025 across three subsidiaries, ranking the company second worldwide, according to Axis Intelligence Research analysis of WIPO data.
How Much Revenue Does Xiaomi Make?
Xiaomi closed 2025 with the largest revenue base in its history and opened 2026 by losing ground. Both facts come from the same filings, and reading them together is the only way the year makes sense.
Total 2025 revenue reached RMB457,286.7 million, a 25.0% increase over 2024, with gross profit of RMB101,805.8 million and a gross margin of 22.3%. Profit for the year was RMB41,566.4 million; adjusted net profit, the non-IFRS measure Xiaomi uses for operational comparison, came to RMB39,166.3 million. Those figures are audited and published in the company’s 2025 Annual Report filed with the Hong Kong Stock Exchange on March 24, 2026.
Then Q1 2026 arrived. Group revenue of RMB99.1 billion was down 10.9% against Q1 2025’s RMB111.3 billion — the first year-over-year contraction after a stretch of quarters that had run +47.4%, +30.5%, +22.3% and +7.3%. The deceleration was visible in that sequence long before the sign flipped.
Xiaomi Revenue by Segment
| Line | 2024 (RMB M) | 2025 (RMB M) | YoY | Source |
|---|---|---|---|---|
| Smartphones | 191,759.3 | 186,439.8 | −2.8% | Xiaomi 2025 Annual Report |
| IoT and lifestyle products | 104,103.9 | 123,200.2 | +18.3% | Xiaomi 2025 Annual Report |
| Internet services | 34,115.4 | 37,440.3 | +9.7% | Xiaomi 2025 Annual Report |
| Other related businesses (SP×AIoT) | 3,174.2 | 4,136.9 | +30.3% | Xiaomi 2025 Annual Report |
| Smartphone × AIoT segment | 333,152.8 | 351,217.2 | +5.4% | Xiaomi 2025 Annual Report |
| Smart EV, AI and other new initiatives | 32,753.6 | 106,069.5 | +223.8% | Xiaomi 2025 Annual Report |
| Total revenue | 365,906.4 | 457,286.7 | +25.0% | Xiaomi 2025 Annual Report |
Every rupee of Xiaomi’s 2025 growth, and then some, came from outside the phone. Smartphone revenue actually shrank by RMB5.3 billion while the group added RMB91.4 billion. The EV segment alone contributed RMB73.3 billion of new revenue.
Quarterly Revenue Trajectory
| Quarter | Total revenue (RMB bn) | SP×AIoT (RMB bn) | EV/AI/new (RMB bn) | YoY | Source |
|---|---|---|---|---|---|
| Q1 2025 | 111.3 | 92.7 | 18.6 | +47.4% | Xiaomi Q1 2026 results deck |
| Q2 2025 | 116.0 | 94.7 | 21.3 | +30.5% | Xiaomi Q1 2026 results deck |
| Q3 2025 | 113.1 | 84.1 | 29.0 | +22.3% | Xiaomi Q1 2026 results deck |
| Q4 2025 | 116.9 | 79.7 | 37.2 | +7.3% | Xiaomi Q1 2026 results deck |
| Q1 2026 | 99.1 | 79.3 | 19.9 | −10.9% | Xiaomi Q1 2026 results deck |
Alex Rivera: The Q4-to-Q1 drop in the EV line — RMB37.2 billion to RMB19.9 billion — is the number that gets misread most often. It is not a demand collapse. Xiaomi ended the first-generation SU7 in February and started delivering the new one on March 23, so a full quarter’s worth of sedan volume landed in about a week. Read it as a changeover, not a verdict. The smartphone line is the one that should worry people, because RMB44.3 billion in Q1 2026 is the same figure as Q4 2025 and 12.5% below Q1 2025, with fewer units behind it.
The Axis Smartphone Dependence Index (SDI)
Every quarter, analysts ask a version of the same question about Xiaomi: is it still a phone company? Nobody publishes a consistent, reproducible number that answers it. Axis Intelligence Research does.
SDI — the Smartphone Dependence Index — is the share of a company’s total group revenue that comes from smartphone hardware sales, expressed on a 0–100 scale.
SDI = (smartphone hardware revenue ÷ total group revenue) × 100
A reading of 100 means the company is a pure phone maker. A reading of 0 means phones contribute nothing. The index uses only revenue lines as reported in HKEX filings and quarterly results decks — no estimates, no modelled inputs, no blended methodologies.
Xiaomi SDI Readings
| Period | Smartphone revenue | Total revenue | SDI | Source |
|---|---|---|---|---|
| FY2024 | RMB191,759.3 M | RMB365,906.4 M | 52.4 | Xiaomi 2025 Annual Report |
| FY2025 | RMB186,439.8 M | RMB457,286.7 M | 40.8 | Xiaomi 2025 Annual Report |
| Q1 2025 | RMB50.6 bn | RMB111.3 bn | 45.5 | Xiaomi Q1 2026 results deck |
| Q4 2025 | RMB44.3 bn | RMB116.9 bn | 37.9 | Xiaomi Q1 2026 results deck |
| Q1 2026 | RMB44.3 bn | RMB99.1 bn | 44.7 | Xiaomi Q1 2026 results deck |
Baseline reading: FY2024. All readings computed by Axis Intelligence Research from company-reported revenue lines. Snapshot date: March 31, 2026. Licensed CC BY 4.0.
Two things stand out. First, the annual drop from 52.4 to 40.8 is enormous — 11.6 points in twelve months. For comparison, Apple’s iPhone share of net sales has moved by low single digits per year across the same period. Xiaomi restructured what it sells faster than any of its peers.
Second, and more interesting: SDI went back up in Q1 2026, to 44.7. That is not a phone recovery. Smartphone revenue was flat sequentially at RMB44.3 billion; the ratio rose because the denominator shrank. When EV revenue halves between quarters, the phone business mechanically becomes a bigger share of a smaller company. An index that only ever falls would be a marketing chart. This one moves in both directions, which is what makes it usable.
The Q1 2026 reading has an unusually strong validation: Xiaomi’s own CFO stated on the May 26, 2026 results call that smartphone revenue accounted for 44.7% of group revenue that quarter. Our independently computed SDI returns 44.702. The formula reproduces the company’s own arithmetic to three decimals.
What SDI does not capture: it treats smartphone hardware revenue only. Internet services revenue — RMB37.4 billion in 2025, at a 76.5% gross margin — is generated overwhelmingly by phone users but sits outside the numerator. A reader who wants total phone-attributable economics should read SDI alongside the internet services line, not instead of it.
How Many Smartphones Does Xiaomi Ship?
Xiaomi shipped 165.2 million smartphones in 2025, down 2.0% from 168.5 million in 2024. Omdia, the tracker Xiaomi cites in its own filings, put global market share at 13.3% and a top-three ranking held for a fifth consecutive year.
2026 broke the pattern. In Q1, shipments fell to 33.8 million units — a 19.2% year-over-year decline, the steepest among the global top five. In Q2 they fell again, to 31.2 million, down 26% year-over-year. Xiaomi held third place both quarters.
Global Smartphone Shipments, Q2 2026
| Vendor | Q2 2026 (M units) | Share | Q2 2025 (M units) | Share | YoY | Source |
|---|---|---|---|---|---|---|
| Samsung | 60.5 | 22% | 57.5 | 20% | +5% | Omdia, July 30, 2026 |
| Apple | 55.1 | 20% | 44.8 | 16% | +23% | Omdia, July 30, 2026 |
| Xiaomi | 31.2 | 11% | 42.4 | 15% | −26% | Omdia, July 30, 2026 |
| OPPO (incl. OnePlus, realme) | 28.4 | 10% | 34.4 | 12% | −17% | Omdia, July 30, 2026 |
| vivo | 21.5 | 8% | 26.4 | 9% | −18% | Omdia, July 30, 2026 |
| Others | 75.2 | 28% | 83.5 | 29% | −10% | Omdia, July 30, 2026 |
| Total | 272.0 | 100% | 288.9 | 100% | −6% | Omdia, July 30, 2026 |
Xiaomi figures include Redmi and POCO. Percentages may not sum to 100% due to rounding.
Combining the two quarters: Axis Intelligence Research calculates first-half 2026 Xiaomi shipments of 65.0 million units against 84.2 million in the first half of 2025 — a 22.8% decline, and a loss of 19.2 million units in six months.
The mechanism is not mysterious, and it is not really about Xiaomi. IDC reported that memory costs are up close to 300% year-over-year and now represent more than 65% of the bill of materials on low-end devices. Omdia’s Q2 2026 analysis notes that more than half of Xiaomi’s shipments carry retail prices below US$200 — the highest entry-tier exposure of any top-five vendor. When the cheapest component in a cheap phone triples in price, the cheap phone stops being viable. Xiaomi’s response, confirmed by both IDC and management commentary, was to deliberately cut shipments of older and low-end models rather than pass through 40–50% price increases in emerging markets.
IDC now forecasts the global smartphone market will contract 13.9% in 2026 to 1.09 billion units — the steepest annual decline in the industry’s history — with global ASP rising to a record US$550, up US$100 in a single year.
Xiaomi Smartphone Market Share by Quarter
| Quarter | Shipments (M) | Global share | Source |
|---|---|---|---|
| Q1 2025 | 41.8 | 14.1% | Omdia via Xiaomi Q1 2026 deck |
| Q2 2025 | 42.4 | 14.7% | Omdia via Xiaomi Q1 2026 deck |
| Q3 2025 | 43.4 | 13.6% | Omdia via Xiaomi Q1 2026 deck |
| Q4 2025 | 37.8 | 11.1% | Omdia via Xiaomi Q1 2026 deck |
| Q1 2026 | 33.8 | 11.3% | Omdia via Xiaomi Q1 2026 deck |
Xiaomi Regional Market Share
Xiaomi’s geographic footprint is its most underappreciated asset, and 2026 is testing it in an uneven way — the regions where it leads are the regions where sub-$200 phones matter most.
| Region | 2025 rank | 2025 share | Q1 2026 rank | Q1 2026 share | Source |
|---|---|---|---|---|---|
| Europe | No. 3 | 20.3% | No. 3 | 17.2% | Omdia via Xiaomi filings |
| Latin America | No. 2 | 17.5% | No. 2 | 17.4% | Omdia via Xiaomi filings |
| Southeast Asia | No. 2 | 17.0% | No. 3 | 16.9% | Omdia via Xiaomi filings |
| Middle East | No. 2 | 16.0% | No. 3 | 13.0% | Omdia via Xiaomi filings |
| Africa | No. 3 | 12.7% | No. 3 | 9.2% | Omdia via Xiaomi filings |
| India | No. 4 | 12.8% | No. 4 | 12.1% | Omdia via Xiaomi filings |
| Chinese Mainland | No. 2 | 16.6% | No. 3 | 16.0% (March) | Third-party data via Xiaomi filings |
| Global | No. 3 | 13.3% | No. 3 | 11.3% | Omdia via Xiaomi filings |
Xiaomi ranked top three in 58 markets and top five in 70 markets in 2025. By Q1 2026 those counts had fallen to 47 and 65 respectively — eleven markets lost from the top-three column in a single quarter. That is the clearest available measure of how far the entry-tier squeeze has traveled.
Africa is the sharpest single move: 12.7% to 9.2%, a 3.5-point share loss. Middle East fell 3.0 points, though Omdia attributes part of that to a regional 18% shipment decline driven by conflict-related supply and retail disruption rather than competitive loss.
Average Selling Price and Premiumization
Here the picture inverts. Xiaomi’s Q1 2026 ASP reached RMB1,310 — a record high, up 8.2% year-over-year from RMB1,211, and up 16.1% from the FY2025 average of RMB1,128.7. Selling 8 million fewer phones and earning RMB1,310 each instead of RMB1,211 is exactly the trade the company said it was making.
| Period | ASP (RMB) | Premium share of Chinese Mainland units | Source |
|---|---|---|---|
| 2023 | 1,082 | 20.3% | Xiaomi results decks |
| 2024 | 1,138 | 23.3% | Xiaomi results decks |
| 2025 | 1,129 | 27.1% | Xiaomi results decks |
| Q1 2025 | 1,211 | 25.0% | Xiaomi Q1 2026 results deck |
| Q1 2026 | 1,310 | 23.5% | Xiaomi Q1 2026 results deck |
Premium defined as retail price at or above RMB3,000 in the Chinese Mainland.
Axis cross-source calculation — the ASP gap. Xiaomi’s record ASP is still a fraction of the industry’s. Converting RMB1,310 at 6.7894 RMB/USD (rate published August 1, 2026) gives US$192.95. Against IDC’s forecast 2026 global smartphone ASP of US$550:
US$192.95 ÷ US$550 = 35.1%
At the weaker RMB rate prevailing during Q1 2026 (approximately 7.18), the same calculation returns 33.2%. Axis Intelligence Research therefore estimates Xiaomi’s average phone sells for roughly one-third of the global industry average price. This is a cross-source estimate, not an observation: it sets a company-reported quarterly ASP against a tracker’s full-year forecast, and the currency conversion is a single-date snapshot. It is published as an estimate for exactly those reasons.
The gap explains the whole 2026 story in one ratio. A vendor at a third of industry ASP has a third of the absorption capacity when component costs spike — and the memory content of a RMB1,310 phone is a far larger percentage of its cost than the memory content of a US$1,000 phone.
Gross margin confirms it. Xiaomi’s smartphone gross margin was 12.6% in 2024, 10.9% in 2025, and 10.1% in Q1 2026. Internet services, by contrast, held a 76.1% gross margin in Q1 2026.
Alex Rivera: The premium share number is the one to watch, and it went the wrong way — 25.0% in Q1 2025 to 23.5% in Q1 2026, even as ASP hit a record. Those two facts coexist because ASP rose across every tier when prices went up, not because more people bought the flagship. Premiumization that shows up in ASP but not in mix is inflation with better PR. The Xiaomi 17 Ultra at RMB6,999 and the Barcelona launch at EUR1,499 are real moves upmarket; the Q1 mix says they have not landed yet at volume.
How Many Cars Does Xiaomi Sell?
Xiaomi delivered 411,082 electric vehicles in 2025, up 200.4% from 136,854 in 2024. Smart EV revenue reached RMB103.3 billion at an ASP of RMB251,171 per vehicle, and the EV/AI/new-initiatives segment turned its first full-year operating profit: RMB0.9 billion.
2026 has been harder.
Xiaomi EV Monthly Deliveries
| Month | 2024 | 2025 | 2026 |
|---|---|---|---|
| January | — | 22,897 | 39,002 |
| February | — | 23,728 | 20,414 |
| March | — | 29,244 | 21,440 |
| April | 7,058 | 28,585 | 36,702 |
| May | 8,630 | 28,013 | 32,759 |
| June | 14,296 | 25,459 | 34,738 |
| July | 13,120 | 30,452 | >30,000 |
| August | 13,111 | 36,396 | — |
| September | 13,559 | 41,948 | — |
| October | 20,726 | 48,654 | — |
| November | 23,156 | 46,249 | — |
| December | 25,815 | 50,212 | — |
Source: China Passenger Car Association and Xiaomi company reports, compiled by CnEVPost. July 2026 figure is Xiaomi’s own disclosure; the company has not published an exact number for four consecutive months.
First-half 2026 deliveries totalled 185,055 units, up 17.18% year-over-year. Axis Intelligence Research verified this figure two ways: the monthly series sums exactly to 185,055, and the model split published for the half — 104,559 YU7 and 80,496 SU7 — reconciles to the same total. Q1’s monthly sum of 80,856 matches Xiaomi’s audited quarterly disclosure to the unit.
The 550,000 Target Gap
Lei Jun set a 2026 delivery target of 550,000 vehicles in a January 5, 2026 livestream, roughly 34% above the 2025 result. The arithmetic on that target is now unforgiving, and Axis Intelligence Research publishes it in full:
| Input | Value |
|---|---|
| 2026 target | 550,000 |
| H1 2026 actual | 185,055 (33.6% of target) |
| July 2026 (company: “over 30,000”) | ≥30,000 |
| Implied YTD through July | ≥215,055 (39.1% of target) |
| Remaining Aug–Dec | ≤334,945 |
| Required monthly average, Aug–Dec | 66,989 |
| Best month on record (December 2025) | 50,212 |
| Required run-rate vs. record month | 1.33× |
Required monthly average = (550,000 − 215,055) ÷ 5 = 66,989
Xiaomi has never delivered 51,000 vehicles in a month. Reaching the target requires five consecutive months at a third above the all-time peak, starting immediately.
The second-half variable is the Sky Nomad series, unveiled July 30, 2026 — Xiaomi’s first extended-range electric vehicles. The N90 Max is priced at RMB299,900 in pre-sale and the N70 Max at RMB259,900, with deliveries scheduled to begin in September. That leaves four months of contribution against a five-month gap of 335,000 units.
EV Unit Economics
| Metric | 2025 | Q1 2026 | Source |
|---|---|---|---|
| Deliveries | 411,082 | 80,856 | Xiaomi filings |
| Smart EV revenue | RMB103.3 bn | RMB19.0 bn | Xiaomi filings |
| ASP per vehicle | RMB251,171 | ~RMB235,000 | Xiaomi filings / results call |
| Segment gross margin | 24.3% | 20.1% | Xiaomi filings |
| Segment operating result | +RMB0.9 bn | −RMB3.1 bn | Xiaomi filings |
| Operating loss per vehicle | — | ~RMB38,340 | Axis Intelligence Research calculation |
Operating loss per vehicle = RMB3.1 bn ÷ 80,856 = RMB38,340
Xiaomi attributes the margin compression to three named causes: a lower contribution from the high-priced SU7 Ultra, vehicle purchase tax subsidies, and increased prices for key EV components. Note that the RMB38,340 figure covers the whole EV/AI/new-initiatives segment, which includes AI and robotics spending, so it overstates the per-car loss on the vehicle business alone.
Product Quality and Recalls
The Xiaomi SU7 ranked No. 1 in J.D. Power’s 2025 and 2026 China New Energy Vehicle Initial Quality Study among large pure-electric sedans, and No. 1 in the corresponding NEV-APEAL study. The YU7 took both titles among large pure-electric SUVs in 2026.
Against that: China’s State Administration for Market Regulation published a recall covering SU7 Standard Edition vehicles built between February 6, 2024 and August 30, 2025, for insufficient recognition and warning capability in the L2 highway pilot assistance system, remedied by an over-the-air update. Secondary accounts of the recall volume conflict, reporting either 116,877 or 116,887 units. Axis Intelligence Research resolves this to 116,887 because the two component recall numbers published alongside the filing — 98,462 units and 18,425 units — sum precisely to 116,887. The lower figure appears to be a transcription error.
Alex Rivera: The delivery target is the wrong thing to judge Xiaomi’s car business on, and it will be the thing everyone judges it on. What matters more is that the SU7 sedan fell 48.3% in the first half while the YU7 SUV carried 56.5% of volume — a portfolio rotating from a sedan into an SUV in under a year, which is the same shape as a normal automaker’s product cycle rather than a startup’s. Missing 550,000 while running a real product cadence and topping initial-quality studies is a different problem than missing it while shipping one car badly.
How Big Is Xiaomi’s AIoT Ecosystem?
The connected-device platform is where Xiaomi’s scale is least contested and least reported.
| Metric | 2023 | 2024 | 2025 | Q1 2026 | Source |
|---|---|---|---|---|---|
| Connected IoT devices (M) | 739.7 | 904.6 | 1,079.2 | 1,118.7 | Xiaomi filings |
| Users with 5+ connected devices (M) | 14.5 | 18.3 | 22.7 | 23.6 | Xiaomi filings |
| Xiaomi Home App MAU (M) | 85.8 | 100.8 | 112.7 | 117.0 | Xiaomi filings |
| AI Assistant MAU (M) | 122.3 | 137.1 | 159.9 | 169.3 | Xiaomi filings |
| Global MAU (M) | 641.2 | 702.3 | 754.1 | 746+ | Xiaomi filings |
| Chinese Mainland MAU (M) | 155.6 | 172.9 | 190.4 | 195.8 | Xiaomi filings |
Connected device counts exclude smartphones, tablets and laptops.
Xiaomi crossed one billion connected devices during 2025 and reached 1,118.7 million by March 31, 2026. Chinese Mainland MAU hit a record 195.8 million in March 2026, up 8.1% year-over-year — growing while phone shipments fell 19.2%, because the installed base outlives the shipment quarter.
Category rankings for 2025, per Omdia: No. 1 globally in wearable bands (shipments up 22.6%), No. 2 in TWS earbuds (up 32.3%), No. 3 globally in AI glasses, and top five globally in tablets (up 25.2%). By Q1 2026 the wearable band ranking had slipped to No. 3 and TWS to No. 2.
Large home appliances were the standout hardware line: 2025 revenue up 23.1%, with air conditioner shipments above 8.5 million units (+24%), refrigerators above 2.8 million (+4%), and washing machines above 2.3 million (+18%).
How Much Does Xiaomi Spend on R&D?
R&D expenses reached RMB33.1 billion in 2025, up 37.8% year-over-year, against RMB24.1 billion in 2024. Cumulative R&D spending across 2021–2025 totalled RMB105.5 billion — a figure Axis Intelligence Research verified by summing the published annual series (13.2 + 16.0 + 19.1 + 24.1 + 33.1 = 105.5). Xiaomi has committed to exceeding RMB200 billion across 2026–2030, and expects 2026 alone to exceed RMB40 billion.
| Year | R&D expense (RMB bn) | R&D as % of revenue | Source |
|---|---|---|---|
| 2020 | 9.3 | — | Xiaomi results decks |
| 2021 | 13.2 | — | Xiaomi results decks |
| 2022 | 16.0 | — | Xiaomi results decks |
| 2023 | 19.1 | — | Xiaomi results decks |
| 2024 | 24.1 | 6.6% | Xiaomi filings |
| 2025 | 33.1 | 7.2% | Xiaomi filings |
| Q1 2026 | 8.95 | 9.0% | Xiaomi Q1 2026 results deck |
R&D intensity rising from 7.2% to 9.0% while revenue falls is a deliberate choice, not an accident of arithmetic. R&D headcount reached 25,457 at the end of 2025 and exceeded 26,000 by March 2026, out of 56,531 total full-time employees — R&D staff are 45% of the company.
Patents and Industrial Design
This is where Xiaomi’s engineering spend becomes externally verifiable, and where a genuinely under-reported number sits.
Beijing Xiaomi Mobile Software filed 1,921 published PCT applications in 2025, ranking ninth worldwide, per the World Intellectual Property Organization. More striking is the Hague System for industrial designs, which almost nobody tracks:
| Applicant entity | 2024 designs | 2025 designs | 2025 rank | Source |
|---|---|---|---|---|
| Beijing Xiaomi Mobile Software | 230 | 659 | No. 2 | WIPO |
| Xiaomi EV Technology | 49 | 127 | No. 22 | WIPO |
| Xiaomi Technology (Wuhan) | 13 | 81 | No. 42 | WIPO |
| Axis aggregate — all Xiaomi entities | 292 | 867 | — | Axis Intelligence Research |
Axis aggregate = 659 + 127 + 81 = 867 industrial designs, up 197% from 292 in 2024.
WIPO ranks applicants by legal entity, so Xiaomi’s true design output is split across three separate rows and never appears as one number. Consolidating them, Axis Intelligence Research finds Xiaomi filed 867 international industrial designs in 2025 — the largest single-company design portfolio filed under the Hague System that year after Huawei’s 1,200, and nearly triple its own 2024 total. Xiaomi held 47,000+ granted patents globally as of March 31, 2026.
Methodology
Collection. Every figure in this report was retrieved from a primary document during the production session on August 5, 2026. Sources: Xiaomi Corporation’s 2025 Annual Report and 2025 Fourth Quarter and Annual Results presentation, both filed with the Hong Kong Stock Exchange; Xiaomi’s Q1 2026 Results Announcement presentation; IDC’s Worldwide Quarterly Mobile Phone Tracker public releases; Omdia’s 2Q26 global smartphone shipment release of July 30, 2026; and WIPO’s 2026 IP Services press annexes. China Passenger Car Association monthly delivery data is cited as compiled by the trade outlet CnEVPost and is named in plain text without a hyperlink, consistent with Axis linking discipline for non-primary compilers.
Formulas. Three original calculations appear in this report.
Smartphone Dependence Index: SDI = (smartphone hardware revenue ÷ total group revenue) × 100. Inputs are the revenue lines as reported. The Q1 2026 reading of 44.702 is independently confirmed by Xiaomi’s own stated 44.7%.
ASP gap: (Xiaomi quarterly ASP in RMB ÷ RMB-per-USD rate) ÷ IDC forecast global ASP. Published as an estimate. Currency conversion uses 6.7894 RMB/USD as published August 1, 2026; the alternative Q1-period rate of approximately 7.18 is shown alongside.
EV target gap: (annual target − year-to-date deliveries) ÷ remaining months. All inputs are disclosed figures.
Reconciliations performed. The CPCA monthly delivery series sums to 185,055 for H1 2026, matching the published half-year total and the YU7/SU7 model split (104,559 + 80,496). The 2025 CPCA monthly series sums to 411,837 against Xiaomi’s company-reported 411,082 — a 755-unit gap arising from registration-versus-delivery timing. Both figures are carried in the dataset with their respective sources. ASPs computed from revenue ÷ units reproduce Xiaomi’s stated ASPs to within 0.2 RMB in every period tested.
Where trackers disagree. IDC and Omdia report different Xiaomi Q1 2026 figures — 33.8 million units at 11.5% share versus 33.8 million at 11.3% share — because their global denominators differ (293.8 million versus a figure implying roughly 299 million). Counterpoint Research reported a steeper Q2 2026 global decline than either. Axis Intelligence Research does not average tracker outputs; each figure is attributed to its issuing organization and its denominator stated.
Excluded. Xiaomi does not disclose smartphone revenue split by region, EV deliveries by model in its financial statements, or XRING chip volumes. No estimate has been substituted for any of these. Market-sizing figures from firms whose methodologies were not published are not used.
About This Dataset
Contents. 193 rows covering Xiaomi Corporation revenue by segment and line (2024–Q1 2026), smartphone shipments and market share globally and by region (2025–Q2 2026), average selling prices, gross margins, EV deliveries by month (2024–2026), AIoT platform metrics, R&D expenditure, employee counts, and intellectual property filings. Every prose statistic in this report exists as a dataset row with source organization, source document, URL, and retrieval date.
Temporal coverage. January 2020 – July 2026.
Spatial coverage. Global, with regional breakouts for Chinese Mainland, Europe, Latin America, Southeast Asia, Middle East, Africa and India.
License. Creative Commons Attribution 4.0 International (CC BY 4.0). Free to use, redistribute and build upon, including commercially, with attribution to Axis Intelligence Research.
Download. xiaomi-statistics.csv — also distributed via Hugging Face, Kaggle and GitHub.
Cite This Dataset
APA: Axis Intelligence Research. (2026). Xiaomi Statistics 2026: Revenue, Shipments, EV Deliveries and Market Share [Data set]. Axis Intelligence. https://axis-intelligence.com/xiaomi-statistics/
MLA: Axis Intelligence Research. “Xiaomi Statistics 2026: Revenue, Shipments, EV Deliveries and Market Share.” Axis Intelligence, 5 Aug. 2026, axis-intelligence.com/xiaomi-statistics/.
Chicago: Axis Intelligence Research. “Xiaomi Statistics 2026: Revenue, Shipments, EV Deliveries and Market Share.” Axis Intelligence, August 5, 2026. https://axis-intelligence.com/xiaomi-statistics/.
Smartphone Dependence Index: Axis Intelligence Research. “Smartphone Dependence Index (SDI): Xiaomi, FY2024–Q1 2026.” Axis Intelligence, August 5, 2026.
Xiaomi Statistics: Frequently Asked Questions
Is Xiaomi still the world’s third-largest smartphone maker in 2026?
Yes, through the second quarter. Xiaomi held third place in both Q1 and Q2 2026 in Omdia’s global shipment rankings, extending a top-three streak that reached 23 consecutive quarters as of March 2026. The margin has narrowed considerably: Xiaomi’s 31.2 million Q2 units sit 2.8 million above OPPO’s 28.4 million, against a gap of 8.0 million a year earlier.
Why did Xiaomi’s smartphone shipments fall 26% when Apple’s rose 23%?
Bill-of-materials exposure, not brand preference. Memory costs rose close to 300% year-over-year per IDC and now exceed 65% of BOM on low-end devices. Omdia reports that over half of Xiaomi’s shipments retail below US$200, where that cost increase cannot be absorbed or passed through without destroying demand. Apple and Samsung sell overwhelmingly above that threshold and both secured memory supply contracts early. Xiaomi chose to cut low-end volume rather than raise prices 40–50% in emerging markets.
Does Xiaomi make money on each car it sells?
Not at the operating line, as of Q1 2026. The smart EV, AI and other new initiatives segment held a 20.1% gross margin but posted an operating loss of RMB3.1 billion on 80,856 deliveries — roughly RMB38,340 per vehicle, though that segment also carries AI and robotics spending. The same segment was profitable for full-year 2025, earning RMB0.9 billion. The swing came from a lower SU7 Ultra mix, purchase tax subsidies, and higher component prices.
Will Xiaomi hit its 550,000 EV delivery target for 2026?
The arithmetic is severe. Through July, deliveries stand at approximately 215,000 — about 39% of the target with five months remaining. Reaching 550,000 requires averaging 66,989 units per month from August, which is 1.33 times Xiaomi’s best month ever (50,212 in December 2025). The Sky Nomad extended-range SUVs launching in September are the only material new volume source, and they contribute for four months at most.
What is the Smartphone Dependence Index and why does it matter?
SDI is an Axis Intelligence Research metric measuring the share of a company’s total revenue coming from smartphone hardware, on a 0–100 scale. It matters because Xiaomi is valued partly as a diversified hardware group and partly as a phone maker, and the two theses imply different multiples. Xiaomi’s SDI fell from 52.4 in 2024 to 40.8 in 2025, then rose to 44.7 in Q1 2026 — the rise driven by shrinking EV revenue, not recovering phone revenue.
Is Xiaomi selling EVs outside China?
Not yet. Xiaomi has stated it targets European market entry in the second half of 2027, followed by right-hand-drive markets in the first half of 2028. It operates a Munich R&D centre opened in 2025. Every vehicle delivered since the SU7 launch on March 28, 2024 has been sold in the Chinese Mainland — 547,936 units through the end of 2025 on the company’s own reported basis, plus 185,055 in the first half of 2026 on the CPCA basis. Axis Intelligence Research does not publish a single cumulative total, because the two counts are compiled on different bases and adding them would create a figure neither source supports.
How does Xiaomi’s AIoT platform compare to its phone business?
The connected-device platform grew while phones contracted. Connected IoT devices reached 1,118.7 million by March 2026, up from 1,079.2 million at year-end 2025, and Chinese Mainland MAU hit a record 195.8 million in March 2026. IoT and lifestyle products generated RMB123.2 billion in 2025 at a record 23.1% gross margin — more than double the smartphone line’s 10.9%. The installed base is now a larger and better-margin business than the devices that seeded it.
What is Xiaomi’s XRING chip and does it change the shipment picture?
XRING O1 is Xiaomi’s self-developed application processor, which received the First Prize at the company’s 2025 Technology Awards. Xiaomi does not disclose XRING shipment volumes, so its effect on unit economics cannot be quantified from public filings. In principle, in-house silicon reduces exposure to third-party pricing — the structural advantage Apple, Samsung and Huawei all demonstrated during the 2026 memory shock — but no published figure yet supports a claim either way.
Where can journalists and researchers get the underlying data?
The complete fact table ships as xiaomi-statistics.csv under CC BY 4.0, with source organization, document title, URL and retrieval date on every row. It is mirrored to Hugging Face, Kaggle and GitHub. Corrections and inclusion queries: [email protected].
Related Axis Intelligence Research: Samsung Statistics 2026 · Apple Statistics 2026 · iPhone Statistics 2026 · Smartphone Statistics · Foldable Phone Statistics 2026