Item 1 of 2 The logo of Xiaomi appears on a new‑generation SU7 electric sedan ahead of a launch event in Beijing, China, March 19, 2026. REUTERS/Maxim Shemetov/File Photo
[1/2]The logo of Xiaomi appears on a new‑generation SU7 electric sedan ahead of a launch event in Beijing, China, March 19, 2026. REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights, opens new tab
CompaniesBEIJING, July 17 (Reuters) - A Chinese blogger has been given 20 months in prison for fabricating negative claims about the safety of Xiaomi's SU7 electric sedan, state media reported on Friday.
Since last year, authorities have stepped up efforts to curb false advertising, online misinformation and other irregular practices in the fiercely competitive auto industry amid concerns that misleading claims could distort consumer perceptions and competition.
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Bloggers and online platforms accused of smearing automakers or spreading misleading information have also been targeted.
The blogger, identified as Gao, was found guilty by the Haidian District People's Court of damaging the reputation of goods by fabricating false facts and intentionally harming the reputation of car maker Xiaomi (1810.HK), opens new tab, the Beijing Daily reported.
He was also fined 100,000 yuan ($14,800).
In August 2024, Gao and his team released a crash-test video appearing to show that the doors of Xiaomi's best-selling SU7 failed to open after a collision. The video also appeared to show that the vehicle's emergency call system did not activate and its central control screen failed to light up, according to Chinese media reports.
The clip, posted on Gao's video-sharing account with about 1 million followers, went viral, drawing roughly 3 million views.
The court found that Gao and his team had covertly tampered with the vehicle's auxiliary battery before filming and used footage of a battery damaged by a forklift to mislead viewers, the Beijing Daily report said.
In January 2025, Xiaomi said that "a blogger and his accomplices who previously maliciously smeared Xiaomi Auto have been arrested according to law".
Calls to Haidian District court and the blogger went unanswered.
($1 = 6.7717 Chinese yuan renminbi)
Reporting by Reuters staff; Editing by Miyoung Kim and Kevin Liffey
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Xiaomi stock retreated for two consecutive days after a report confirmed that the company was losing market share in the smartphone industry. It slipped to H$25.82 in Hong Kong, a few points below this month’s high of H$26.70.
A report released by Omdia showed that Xiaomi’s woes mounted in the second quarter, a situation that may lead to weaker revenue and profitability growth.
Xiaomi’s market share dropped to 11%, making it the third-biggest player in the industry after Samsung and Apple. Its share has been in a slow downward trend after peaking at about 15% in the second quarter of last year.
In contrast, Samsung became the biggest smartphone maker in the world with a share of 22%, while Apple has 20%. The report noted that the delayed launch of Samsung S26-series pushed some demand into the second quarter. Samsung also gained ground in the budget segment.
Apple’s sales were boosted by iPhone 17, which delivered the strongest iPhone refresh and upgrade cycle in the company’s history.
Xiaomi’s market share retreat happened as vendors in the sub-$400 mass market shifted strategy. Instead of prioritizing volumes, they are now focusing on adjusting retail prices and in their premium segments. Rujan Bjorvovde, the Principal Analyst at Omdia, said:
“Managing the surging component costs is incredibly complex and unpredictable, with some vendors facing memory costing more than four to five times what they did a year ago.”
Xiaomi’s business is struggling as the memory crisis intensifies, with memory and storage costs accounting for about 60% of the bill of materials for budget devices. Sadly, there is still no end in sight for this memory crisis, with Apple warning that it will hike prices for its next models.
The most recent earnings report showed that the company’s revenue and profits nosedived in the first quarter. Its revenue dropped to RMB 99.14 billion from RMB 111.29 billion in the same period last year. Smartphone revenue slipped by 10% to RMB79.3 billion.
On the positive side, the smartphone revenue decline was offset by a modest increase in its smart EV, AI, and New Initiatives segment. This segment’s revenue rose by 6.9% to RMB 19.9 billion, helped by more vehicle sales and offset by lower prices. It delivered 80,856 vehicles in Q1, up from 75,869 in the previous quarter.
Its profitability remained under pressure, with the profit for the period dropping to RMB 4.7 billion from the previous RMB 10.89 billion. These dynamics likely continued in the second quarter as its smartphone sales dropped.
Xiaomi stock chart | Source: TradingView
The weekly chart shows that the Xiaomi stock has been under pressure in the past few months as challenges in its business continued. It plunged from H$61.45 in June last year to the current H$25.82.
The stock has slumped below the 61.8% Fibonacci Retracement level, where most rebounds normally happen. It has remained below the 50 and 200 moving averages.
Therefore, the most likely forecast is bearish as traders wait for its next earnings report, which is expected in August. If this happens, there is a risk that it will drop and retest the support of H$21.35.
The logo of Xiaomi appears on a new‑generation SU7 electric sedan ahead of a launch event in Beijing, China, March 19, 2026. REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights, opens new tab
CompaniesBEIJING, July 9 (Reuters) - China's Xiaomi (1810.HK), opens new tab on Thursday unveiled an SUV series named Sky Nomad, accelerating the technology company's push into automobiles as growth slows in its mainstay smartphone market.
The extended-range electric vehicle (EREV) series, branded Xiaomi Pengcheng in Chinese, will comprise "smart, versatile, spacious" SUVs, CEO Lei Jun said on his Weibo micro-blog account along with a teaser poster of one of the vehicles.
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EREVs are a type of plug-in hybrid that sit between conventional petrol-electric hybrids and battery-only vehicles, using a combustion engine as a generator to extend battery driving range.
Xiaomi's announcement represents expansion beyond battery-powered sedans and crossovers into a category popularised by models from automakers such as Li Auto (2015.HK), opens new tab.
With its SU7 sedan and YU7 crossover, Xiaomi's EV business has become a revenue pillar over the past two years.
The consumer electronics firm expanded into cars in search of new revenue drivers as growth slowed worldwide in the mature smartphone and home appliance markets.
However, the auto business remains costly for the tech firm due to the heavy investment needed and narrower profit margins.
Xiaomi pitches its cars as a high-tech Chinese alternative to models from Tesla (TSLA.O), opens new tab, pitting its SU7 and YU7 lines against the U.S. EV maker's Model 3 and Model Y.
As of the end of June, Xiaomi had delivered 258,232 YU7 crossovers in China since the model's June 2025 launch, compared with 471,207 Model Y vehicles sold in the country over the same period, showed data from auto information and trading platform DCar.
Xiaomi has locked-in orders for existing models but faces a slowing domestic market and has yet to export its vehicles, unlike many domestic peers. The company plans to launch vehicles in Europe next year.
"They (car owners) want their car to be a second home. For them, a car is not merely a means of transport but another moving space," Lei said.
Reporting by Ju-min Park and Qiaoyi Li; Editing by Christopher Cushing
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Hong Kong-listed shares of Chinese electric vehicle makers surged Thursday after June delivery figures buoyed investor sentiment, with BYD gaining around 9% and Xiaomi climbing about 5%.
Xiaomi reported its third consecutive month of having over 30,000 deliveries in June. The company's shipments from January to June totaled over 180,000 units, representing about 33% of its 2026 delivery target of 550,000 units, according to Citi.
Xiaomi share price
Citi said Xiaomi's shares could rebound in August with the launch of its YU9 luxury sport utility vehicle.
"Any sign of memory peaking given more capex announcement from global Chinese memory makers could be positive to Xiaomi shares," it added.
Meanwhile, BYD posted a vehicle sales volume of 403,472 units in June, up 5.46% from 382,585 units in the same period a year ago.
Deutsche Bank said BYD's second-quarter sales volume rose 58% from the previous quarter to 1.1 million units.
"We forecast the company's quarterly net profit to increase 145% QoQ to RMB 10 billion in the second quarter," according to a note by Deutsche Bank.
As enterprise AI agents take on increasingly complex, long-horizon tasks, their performance is often restricted by their harness, the software scaffolding that connects the backbone LLM to its environment. Currently, harnesses are largely static and hand-crafted.
Xiaomi stock price has suffered a major reversal in the last 12 months, moving from a high of H$61.55 to H$22.62 today, its lowest level since September 2024, with its market cap falling from H$1.53 trillion ($192 billion) to $74 billion. This retreat has happened amid the soaring memory prices and the ongoing retreat in EV stocks.
Xiaomi, a company often compared with Apple, has dropped sharply this year and is now hovering at its lowest level since 2024. This retreat has made it one of the worst-performing companies in the Hang Seng Index.
The company is facing some major challenges that are affecting its profits. The most notable one is the ongoing semiconductor and memory price surge around the world.
This is important because the company does not manufacture its own memory products. Instead, it uses products made by companies like SK Hynix, Micron, and Samsung Electronics. These companies have all seen a surge in memory demand, which has pushed their prices higher.
As a result, smartphone manufacturers are working on boosting their prices, which may affect their demand. Just last week, Apple became the first major company to say that it will hike prices for the next iPhones.
Xiaomi has also struggled because of its electric vehicle business. While its EV sales are rising, there are concerns that demand will wane after Beijing ended its subsidies earlier this year. All EV stocks have plunged sharply this year.
The most recent results showed that Xiaomi’s business is going in reverse gear. Its revenue dropped by 10.9% to RMB99.14 billion in the first quarter from the previous year’s RMB111.2 billion.
Its profitability metrics were worse. Its profit for the period declined by 56.5% to RMB4.7 billion, while the operating profit fell by 60% to RMB5.3 billion. These declines were mostly driven by the smartphone segment whose shipments dropped to 33.8 million units from 41.8 million in the same period last year.
READ MORE: Apple, Samsung warn of memory shortage in results: these stocks will benefit
The same slowdown is happening across its other segments. Vehicle deliveries dropped to 80,856 from 145,115 in the fourth quarter. Q4’s surge happened as customers rushed to buy ahead of the expiration of subsidies.
With its business slowing, the company has moved to financial engineering by reducing the number of outstanding shares. It bought 250 million shares valued at over H$8.4 billion.
Xiaomi stock price chart | Source: TradingView
The weekly chart shows that the Xiaomi share price has slumped in the past few months. This retreat happened after the stock formed a triple-top pattern at H$61.5 and a neckline at H$36. It has slumped below the 50-week Exponential Moving Average (EMA).
The stock has dropped below the 61.8% Fibonacci Retracement level, while the Relative Strength Index (RSI) moving below the oversold level. Therefore, the stock will likely continue falling, potentially to the key support of $19.86, the 78.2% retracement level.
Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently sold shares of Tri Pointe Homes Inc. (NYSE: TPH). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $1,001 and $15,000 in Tri Pointe Homes stock on February 23rd. The trade occurred in the Representative's "150 MAIN STREET TRUST > BANK OF AMERICA"
Xiaomi founder and CEO Lei Jun speaks at the Chinese smartphone maker's launch event in Beijing, China May 22, 2025. REUTERS/Florence Lo/File Photo Purchase Licensing Rights, opens new tab
CompaniesBEIJING, March 19 (Reuters) - Chinese smartphone and electric vehicle giant Xiaomi (1810.HK), opens new tab will invest at least 60 billion yuan ($8.70 billion) in artificial intelligence over the next three years, CEO Lei Jun said on Thursday.
The announcement came a day after the company officially unveiled its new flagship AI model MiMo-V2-Pro, a large language model originally uploaded anonymously onto OpenRouter last week.
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The model has shot up the AI gateway platform's leaderboard rankings, so far processing more than 1.5 trillion tokens or units of data, a sign that it has been well received by developers worldwide.
Lei, speaking at a company event in Beijing, highlighted MiMo-V2-Pro's global reception, saying it would rapidly improve, and revealed Xiaomi's budget for AI research this year had exceeded the previously announced 16 billion yuan figure.
"So you will see that we will advance faster and faster in many core technologies," he said.
Xiaomi's increased investment in AI comes as competition in China's cutthroat chatbot space is being redirected to agents, which require far less prompting and can execute more complex tasks.
While AI chatbots in China have faced intense downward price pressures, particularly since DeepSeek's ascent in the past two years, tech firms are eyeing the much higher token consumption required by agents as a potentially new lucrative revenue stream.
MiMo-V2-Pro was created to handle agent workloads, according to Lei, as agent frameworks like OpenClaw take China by storm, prompting Chinese tech giants from Alibaba to Tencent to jump on the trend in the hopes of generating new streams of revenue.
"Developers around the world have commented that V2-Pro has a high IQ, also a high EQ, and crucially its task execution ability is both fast and accurate... underscoring its huge global impact," Lei said.
Lei also noted the youthfulness of the team behind MiMo-V2-Pro, boasting an average age of 25, and with over half of its members holding doctorate degrees or hailing from China's top two universities, PKU and Tsinghua. MiMo is led by ex-DeepSeek researcher and PKU graduate Luo Fuli, who was born in 1995.
($1 = 6.8998 Chinese yuan renminbi)
Reporting by Ju-min Park and Eduardo Baptista; Editing by Andrew Heavens and Jan Harvey
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Ju-min Park is a senior correspondent for Reuters based in Beijing, covering the automobile industry. She began her career at Reuters since 2010 and previously reported on the Korean peninsula and Japan.
Eduardo Baptista is a Senior Correspondent for Reuters based in Beijing, covering China’s technology, space, and automotive industries. He has led enterprise and investigative reporting on China’s military-linked companies, artificial intelligence and semiconductor supply chains, as well as macroeconomic and industrial policy. Baptista has reported from China for nearly a decade and holds a BA in History from the University of Cambridge.
Xiaomi is transitioning from a smartphone-centric business to a diversified digital goods and EV company, with EV deliveries tripling in 2025. Despite impressive EV execution and segment profitability, Xiaomi faces margin pressure in smartphones due to surging DRAM costs and subsidy phase-outs for appliances. Q4 2025 earnings are expected to show modest revenue growth (~7.5% Y/Y) and flat adjusted net income, with EV as the key growth engine.
Xiaomi reported a slump in quarterly net profit, caught between soaring memory-chip prices and subdued consumption in one of the world's largest consumer markets.
Xiaomi transitioning from smartphones to EV, physical robotics, and other AI initiatives can impact near-term revenue and earnings outlook. The smartphone's share of total gross profit has declined from 40.9% to 15.1% over the past two years, while the EV and AI segment has increased from 0% to 34.7%. Due to a spike in memory prices, the smartphone segment's gross profit has declined significantly, and management expects cost pressures to persist.
A Xiaomi SU7 Ultra electric vehicle (EV) is displayed during a media day for the Auto Shanghai show in Shanghai, China April 23, 2025. REUTERS/Go Nakamura Purchase Licensing Rights, opens new tab
CompaniesBEIJING, April 24 (Reuters) - Xiaomi, a well-known maker of smart consumer electronics in China, said on Friday that it had delivered 26,000 units of its upgraded SU7 series, which launched in March.
Xiaomi CEO Lei Jun told media at an event at the Beijing Autoshow that the company had received 60,000 locked orders as of April 23 for the new generation SU7 sedans and planned to launch its YU7 GT series at the end of May.
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With a huge following in China, the Chinese electronic giant is taking on Tesla and pursuing premium strategy in the EV market. It is planning to enter the European market next year, as its first overseas destination.
Reporting by Ju-min Park; Editing by Jacqueline Wong
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Hurtling around a race track outside Beijing, Xiaomi's SU7 Ultra is as disconcerting as it's quick. The company is preparing its expansion abroad, where it could pose a threat in the EV market.
Hurtling around a race track outside Beijing, Xiaomi's SU7 Ultra is as disconcerting as it's quick. The company is preparing its expansion abroad, where it could pose a threat in the EV market.
Across social media, influencers are hawking Chinese car brands like BYD, Xiaomi and Zeekr with luxury features, state-of-the-art tech and affordable prices. But they're forbidden fruit for inflation-weary Americans who can't have them just yet.
Across social media, influencers are hawking Chinese car brands like BYD, Xiaomi and Zeekr with luxury features, state-of-the-art tech and affordable prices. But they're forbidden fruit for inflation-weary Americans who can't have them just yet.
Xiaomi had a rough start to the year, posting another profit drop as the memory crunch, stiff competition and soft demand hurt its businesses, from smartphones to electric cars.
Xiaomi (XIACF, XIACY) is rated a buy, with a ~20x P/E offering improved margin of safety after a 30% stock decline. Despite an 11% top-line drop and margin pressure in Q1, XIACF's ecosystem and premium positioning strategies remain intact, supporting long-term growth. Smart EV and AI initiatives saw revenue growth, with the EV division poised for significant scale as Xiaomi targets 550k vehicle deliveries by 2026.
Components of Xiaomi SU7 on display at the Xiaomi booth during the Beijing International Automotive Exhibition (Auto China), in Beijing, China April 24, 2026. REUTERS/Tingshu Wang Purchase Licensing Rights, opens new tab
CompaniesBEIJING, June 11 (Reuters) - Chinese electric vehicle maker Xiaomi (1810.HK), opens new tab has filed with regulators to add an extended-range electric vehicle to its lineup, according to a notice from the industry ministry on Wednesday.
The addition is subject to regulatory approval following a public comment period through June 17.
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The late EV entrant, which has rapidly emerged as a strong rival to established brands including Tesla (TSLA.O), opens new tab, currently offers the battery-powered SU7 sedan and YU7 SUV.
Reporting by Qiaoyi Li and Ju-min Park; Editing by Alexandra Hudson
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Xiaomi's MiMo AI team has open-sourced MiMo Code V0.1.0, a terminal-native AI coding assistant that the Chinese electronics giant says outperforms Anthropic's Claude Code on key agentic coding benchmarks, especially on long-horizon, multi-step tasks (200+ steps) — at least, according to its own internal beta release and survey of 576 developers. It's also bundling limited-time free access to MiMo-V2.5, its multimodal flagship model with a million-token context window, requiring no registration to get started.
