Xiaomi's R&D investment surged 19% to CNY9.2 billion (USD1.4 billion) in the second quarter from a year earlier. Smartphone shipments plummeted 27% to 31.2 million units in the period as the Chinese firm downsized its mid-to-low-end phone segment. Xiaomi’s vehicle deliveries jumped 28% to 104,200 units, driving revenue from innovative businesses, including intelligent electric vehicles and AI, up 17% to CNY24.9 billion (USD3.7 billion).