Xiaomi stock sinks on smartphone price warning despite EV surge
Xiaomi shares fell sharply after the company warned smartphone prices will rise next year due to surging memory-chip costs. The drop overshadowed record EV deliveries and the units first operating profit. EV, AI and new-initiative revenue jumped to 25% of total sales. Xiaomi U.S.-listed stock slid 7.4%, while its Hong Kong shares fell 3.6%.