Xiaomi's adjusted net profit fell 42.6% in the quarter to end June 2026, with revenue down 6.1%. Memory chips are scarce because AI data centres take priority, so Xiaomi raised some phone prices three times this year, up to 500 yuan. Analysts expect pressure on all phone makers to intensify in coming quarters. Global smartphone shipments fell 11% in Q2, and budget-focused Chinese brands saw double-digit drops. For a Thai shop selling phones or gadgets, expect higher supplier prices and cautious buyers; consider holding stock lightly and avoid locking in low-margin deals. The EV unit is also losing money overall, which is less relevant to most SMEs.