On August 18, Lu Weibing, Partner and President of Xiaomi Group, disclosed during the earnings call that in reaction to the substantial surge in memory prices this year, Xiaomi has fine-tuned its smartphone product lineup and launch timing. Concurrently, the company has implemented moderate price increases for select products. Consequently, the average selling price (ASP) of Xiaomi’s smartphones has experienced a notable upswing, reaching an unprecedented peak, while maintaining a stable gross profit margin for its smartphone segment. Lu Weibing anticipates that memory prices will enter a phase of 'slow growth' in the latter half of the year, albeit at persistently elevated levels. In response to these market dynamics, Xiaomi will persist in refining its product mix. He further remarked that the memory industry has weathered its most challenging period and is now in a more manageable phase.