Xiaomi's Lu Weibing: Memory supply will be secure next year, and we may address the rising memory costs by raising prices.

At today's Xiaomi third quarter performance media conference call, Xiaomi Group partner and president Lu Weibing responded to the issue of rising storage costs. He pointed out that the current increase in memory prices is a long-term behavior, mainly driven by the surge in HBM demand brought about by AI, rather than the traditional cyclical fluctuations of the mobile phone and laptop industry. In response to this industry trend, Lu Weibing revealed that Xiaomi has already made early layouts and signed a full-year supply agreement with partners for 2026 to ensure that the supply is not affected throughout the year. Regarding the cost pressure transmission, Lu Weibing admitted that it may partially absorb the pressure of rising memory costs through price increases.