On the evening of May 26, Xiaomi Group released its financial results for the first quarter of 2026. The total revenue hit RMB 99.142 billion, marking a 10.9% year-on-year decrease. The adjusted net profit stood at RMB 6.072 billion, a 43.1% drop compared to the same period last year. Despite these figures, Xiaomi has managed to stay among the top three global smartphone vendors for 23 quarters in a row. Both the average selling price of its smartphones and the average overseas selling price have climbed to new heights, while its gross margin outperformed market expectations. In response to the escalating memory costs, Lu Weibing emphasized that Xiaomi will not transfer these extra costs to consumers. Instead, the company aims to strike a balance between scale and profit by upgrading its product lineup and optimizing software. Moreover, Xiaomi remains steadfast in pursuing its high-end and globalization strategies. It is reshaping its smartphone business with the integration of AI technologies and is set to launch a new-generation operating system between July and August this year.