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Story summary
- Xiaomi Corp reports its first quarterly profit decline in three years due to higher costs and competition.
- Xiaomi's adjusted net profit for the quarter ending December 31 was 6.3 billion yuan, above expectations.
- Xiaomi's annual revenue rose on EV sales, with over 258,000 SU7 units delivered.
- China's smartphone market declined 4% early this year, with memory-cost pressures persisting into 2026.
