Xiaomi's Resilience in Global Smartphone Market Amid Industry Pressure

Xiaomi Group President and Partner Lu Weibing highlighted the company's performance during a recent earnings call, despite industry-wide challenges this quarter. According to Jin10, Xiaomi's smartphones maintained a top-three global market share for 23 consecutive quarters. The average selling price of its phones, both globally and overseas, reached record highs, and the gross profit margin exceeded market expectations. Lu emphasized the importance of not simply passing increased memory costs onto consumers. Instead, Xiaomi plans to reposition its products by upgrading its product matrix and optimizing software to balance scale and profitability.