Xiaomi quarterly profit slumps despite annual EV gains / Photo: GREG BAKER - AFP/File
-
In Brazil's Amazon, the hunt for oil fuels hopes and fears
-
Asian stocks track Wall St rally as oil prices drop
-
Baby orangutans in India expose 'frightening' scale of trafficking
-
Prized Mexican relic returns on loan, two centuries on
-
Oversight Board blasts 'inadequate' Meta safeguards for AI deepfakes
-
'In our lane': Fed's Warsh defies Trump but still fighting for credibility
-
Harry makes first public appearance since return to UK
-
Trump admin makes major cut to endangered species protections
-
Princess Diana's brother makes new explosive claims against Charles
-
GM delivers first components for US interceptor missiles
-
Trump admin overhauls key protection for endangered species
-
Travis Scott and Keith Richards feature on GTA VI soundtrack
-
Mbappe draws political fire over Ceuta t-shirt controversy
-
King Charles warns tech bosses of 'existential dangers' of AI
-
Third malaria death in Germany from outbreak tied to Frankfurt airport
-
French fishermen block ports over petrol prices
-
AtlasClear Holdings Reports Preliminary Fiscal 2026 Revenue of Approximately $20.1 Million, Up 85%; Revenue Plus Interest Income of Approximately $21.9 Million
-
Micron's Taiwan workers say 68 months' bonus not enough
-
'Another arrow to the quiver': World Bank posts record private capital mobilization
-
Canada's Carney pushes 'new alliance' with EU despite Trump threats
-
Ireland to boycott Eurovision 2027 over Gaza
-
Beyond Investment Returns: Families Are Measuring Wealth by Freedom, Continuity, and Legacy, According to Nour Private Wealth
-
India's Tata Sons reappoints N. Chandrasekaran as chairman
-
King Charles disputes claims in book by Princess Diana's brother
-
Germany urges EU action against China to defend carmakers
-
Nepal floods among 'most challenging' disasters: WFP
-
Japan eyes changing prostitution law to punish sex buyers
-
Kids and social media: what would change under new EU law
-
Modi pitches India as global chipmaking hub
-
King Charles to call on tech giants for 'reassurances' over AI
-
Ukraine plans record defence spending in 2027
-
STARPRIME Responds to Diverging Gold Market Demand with AM/PM Fixing and XAU24/7
-
NASA scan discovers new, 'once in a century' Moon crater
-
Where the US-China tariff row stands ahead of White House summit
-
Most stocks rise as Fed hikes and indicates drive to curb inflation
-
Indonesia cash-for-photos scheme turns animal hunters into protectors
-
UK-Sudanese author pens book to give children 'African history of Africa'
-
Bayer to Present How it Rebuilt Global Planning with OMP at Gartner Supply Chain Planning Summit 2026
-
Argentine judge orders suspension of Falklands oil project
-
US Congress passes sweeping Russia sanctions bill
-
US Fed raises rates to tackle 'too high' inflation, irking Trump
-
US stocks fall, dollar gains after Fed lifts interest rates
-
Turkey releases 106 protesters, jails more LGBTQ activists
-
US Fed raises rates to tackle 'too high' inflation in move sure to rile Trump
-
Candidate for UN chief calls for AI regulation akin to nuclear weapons
-
US Fed raises rates to battle inflation in move likely to rile Trump
-
'We're losing control,' AI pioneer Yoshua Bengio tells AFP
-
US House faces test on sweeping Russia sanctions bill
-
IR-MED and Dice Technologies Announce collaboration to Evaluate and Advance Pressure-Injury Prevention Platform in Japan
-
British PM says to make 'difficult decisions' as inflation rises
Xiaomi quarterly profit slumps despite annual EV gains
Chinese electronics giant Xiaomi announced a dip in quarterly profit on Tuesday after slower smartphone sales, while electric vehicles drove a modest surge in annual revenue.
The Beijing-based firm, one of the world's largest smartphone makers, has expanded rapidly since its launch in 2011 to produce home appliances and electric vehicles and is now eyeing the artificial intelligence market.
Its performance is considered a bellwether for consumer sentiment in China, where authorities are seeking to make domestic spending the main driver of economic growth.
Xiaomi's total revenue last year was 457 billion yuan ($66 billion), up 25 percent from the previous year, according to a filing with the Hong Kong Stock Exchange.
Adjusted annual net profit reached 39 billion yuan, up 43.8 percent compared to 2024.
However, adjusted net profit was down 23.7 percent on-year in the last three months of 2025, the first quarterly decline since mid-2024 and the biggest drop since the same period in 2022.
Xiaomi said "headwinds" at the end of last year had hurt its business but defended its economic strength.
"In the fourth quarter of 2025, despite headwinds such as significantly increased memory (chip) costs and intensifying industry competition, we maintained resilience across all business segments," the company said in the statement.
Electric vehicles were a bright spot.
Xiaomi entered China's highly competitive EV market in 2024, aiming to win over buyers with a range of high-tech features.
It reached 411,082 vehicle deliveries in 2025 -- surpassing a goal of 350,000 -- to notch 106.1 billion yuan in revenue from its business segment covering smart EVs and AI.
"In 2026, we will strive to achieve the target of delivering 550,000 vehicles for the entire year," Xiaomi said in the statement.
Its business segment that includes smartphones, the company's traditional strength, still accounted for the bulk of sales, with revenue reaching 351.2 billion yuan last year.
However, sales have slowed.
Revenue from smartphones alone in 2025 was 186.4 billion yuan, down 2.8 percent from 191.8 billion yuan in 2024.
Fourth-quarter smartphone revenue was 44.3 billion yuan, down 13.6 percent on-year.
Ch.Lefebvre--CPN
