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China's top memory chipmaker, CXMT , will supply its latest LPDDR6 DRAM chips for Xiaomi's upcoming flagship ​folding phone, the companies said on Saturday.

From 2026–2030, Xiaomi plans $29B in R&D, prioritizing custom AI, chips, and OS to enhance its Human x Car x Home ecosystem and segment competitiveness. Smartphone and IoT segments are expected to benefit most from R&D, with rapid AI and chip innovation sustaining Xiaomi's performance and ecosystem leadership. Capex and R&D will increasingly target Smart EV, AI, and New Initiatives, leveraging high-growth opportunities, while competition from Samsung remains a key risk.

Chinese smartphone maker Xiaomi on Monday unveiled a new version of its in-house Xring smartphone processor, betting that deeper control over key components will help ​strengthen its supply chain and reduce reliance on external chip ​suppliers.

Xiaomi reported Q2 2026 results in line with consensus, but faces macro and micro headwinds across smartphones, IoT, and EV segments. Smartphone and IoT revenues declined year-over-year, pressured by global shipment contraction, subsidy phase-outs, and rising memory costs impacting margins. EV remains the only growth segment, but achieving the ambitious 550k annual delivery target appears highly challenging given current run-rates.

Xiaomi Corporation remains a 'Buy' as Q2 2026 results met expectations, with improving YoY topline contraction and QoQ earnings growth. XIACY's up-market migration strategy is supportive of margin stability for its smartphone business in the future, despite memory cost pressures. EV segment losses narrowed as deliveries rose 28% YoY; upcoming SkyNomad SUV targets broader demographics with strong preorder momentum.

Xiaomi share price has crawled back this week, moving from a low of HKD 25.32 on August 18 to the current HKD 28.45. This rebound happened after the company published its financial results, which demonstrated the lingering weakness in its business.

Xiaomi Corporation (XIACY) Q2 2026 Earnings Call Transcript