Xiaomi reports lower smartphone shipments in Q1 2026, higher average selling price

The sky-high component prices have affected Xiaomi’s smartphone business. In the first three months of 2026, the company shipped 33.8 million units, a decline of 19.2% compared to Q1 2025. This was the biggest drop among the Top 5 makers globally, but Xiaomi had enough of a lead over Oppo (#4, -6.6% YoY) and vivo (#5, -6.7% YoY) to maintain third place. Meanwhile, Samsung and Apple shipments increased by 8.0% and 9.9%, respectively, year over year.

On a regional scale, Xiaomi is #2 in Latin America, #3 in Europe, Africa, the Middle East and Southeast Asia and #4 in India. In its home market of China, the company is #3 with a 16% share at the end of March.

In the previous quarter (Q4 2025), the company reported a rising ASP, Average Selling Price. That was CNY 1,211 then and it has further increased to CNY 1,310 – this is +8% from Q1 last year.

Xiaomi maintains a strong position in smart bands (#3 globally, #2 in China) and TWS buds (#2 globally and in China).

However, the company lost its Top 3 spot as a tablet maker globally – it currently sits at #5 after a 13.6% decline – meanwhile, Huawei jumped up 28.6% and now occupies the #3 spot and Lenovo went up 20.0% and is now in #4.

Xiaomi shipped 80,856 EVs during Q1 this year. Shipments are now dominated by the Xiaomi YU7 series, which quickly grew to overtake the Xiaomi SU7 series. You can read more about Xiaomi’s performance in the EV market over on our sister site, ArenaEV.

As a whole, Xiaomi reported CNY 6.1 billion in profit during Q1 2026 on CNY 99.1 billion of revenue. This is down significantly (43.1%) from the CNY 10.7 billion in profit reported for Q1 last year, which also saw revenue of CNY 111.3 billion.

Source 1 | Source 2 (PDF)