Xiaomi Corp Class B

01810: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Xiaomi Earnings: Memory Prices Hit Smartphones; Fair Value down 8% to HKD 33

Dan Baker

Mar 25, 2026

Xiaomi's fourth-quarter result was marred by weakness in the smartphone and lifestyle businesses, with consolidated revenue up 7% and underlying operating profit down 27%. Ex-auto revenue declined 14%, with smartphone revenue declining by 14% and lifestyle products down 20%.

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Xiaomi Corp Class B

Xiaomi Earnings: Memory Prices Hit Smartphones; Fair Value down 8% to HKD 33

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