Xiaomi shipped 33.8 million smartphones in Q1 2026, a 19.2% drop from a year earlier, the steepest decline among the global top five makers. The Chinese giant kept its third‑place rank, staying ahead of Oppo and vivo, whose shipments slipped 6.6% and 6.7% respectively. Regionally, Xiaomi is second in Latin America, third in Europe and Africa, fourth in India, and holds a 16% share in China.

Sky‑high component prices pushed the average selling price (ASP) to CNY 1,310, an 8% year‑over‑year rise. Revenue hit CNY 99.1 billion, yet profit plunged 43.1% to CNY 6.1 billion, down from CNY 10.7 billion a year prior. Samsung and Apple posted double‑digit shipment gains, widening the gap with Xiaomi in the global market.

Xiaomi remains a podium contender in wearables, ranking third globally in smart bands and second in China, and holds the second spot for TWS earbuds worldwide. Tablet shipments fell to fifth place after a 13.6% decline, while EV output hit 80,856 units, led by the YU7 series overtaking the SU7.