# Memory Chip Prices

Xiaomi’s Record 2025: An EV Triumph Masking a Smartphone Margin Squeeze

Xiaomi reported record 2025 revenues of 457.3 billion RMB, driven by a highly successful entry into the EV market that reached profitability in record time. However, the company is facing significant margin pressure in its smartphone business due to soaring memory chip costs, leading to warnings of impending price increases.