Technology
Handset margins shrink while EV ambitions deepen capital strain
Xiaomi’s management cited softening gadget demand, climbing memory chip prices and intensified competition from electric‑vehicle rivals as the reasons behind the weak performance. © Reuters
GLORIA LI
August 18, 2026 19:05 JST
HONG KONG — Xiaomi’s quarterly net profit fell by almost half, as the continent’s leading smartphone manufacturer faced a double hit from escalating component costs and declining consumer demand.