diff --git a/python/tvm/topi/hexagon/__init__.py b/python/tvm/topi/hexagon/__init__.py
index dfe739288187..a3768a6e809e 100644
--- a/python/tvm/topi/hexagon/__init__.py
+++ b/python/tvm/topi/hexagon/__init__.py
@@ -26,4 +26,5 @@
 from .pooling import *
 from .reduce import *
 from .resize2d import *
+from .tensor_intrin import *
 from .qnn import *
diff --git a/python/tvm/topi/hexagon/injective.py b/python/tvm/topi/hexagon/injective.py
index 9ced0ac7d399..b1d1e1541961 100644
--- a/python/tvm/topi/hexagon/injective.py
+++ b/python/tvm/topi/hexagon/injective.py
@@ -19,6 +19,8 @@
 
 import tvm
 
+import numpy as np
+
 
 def schedule_injective(outs):
     """Schedule for injective op.
@@ -37,11 +39,10 @@ def schedule_injective(outs):
     outs = [outs] if isinstance(outs, tvm.te.tensor.Tensor) else outs
     s = tvm.te.create_schedule([x.op for x in outs])
     tvm.te.schedule.AutoInlineInjective(s)
-
-    # Fuse axes and vectorize inner 128 elements
+    # Fuse axes and vectorize inner elements
     for x in outs:
         fused = s[x].fuse(*x.op.axis)
-        _, inner = s[x].split(fused, factor=128)
+        _, inner = s[x].split(fused, factor=128 // np.dtype(x.dtype).itemsize)
         s[x].vectorize(inner)
     return s
 
diff --git a/python/tvm/topi/hexagon/tensor_intrin.py b/python/tvm/topi/hexagon/tensor_intrin.py
new file mode 100644
index 000000000000..bdc63854328b
--- /dev/null
+++ b/python/tvm/topi/hexagon/tensor_intrin.py
@@ -0,0 +1,71 @@
+# Licensed to the Apache Software Foundation (ASF) under one
+# or more contributor license agreements.  See the NOTICE file
+# distributed with this work for additional information
+# regarding copyright ownership.  The ASF licenses this file
+# to you under the Apache License, Version 2.0 (the
+# "License"); you may not use this file except in compliance
+# with the License.  You may obtain a copy of the License at
+#
+#   http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing,
+# software distributed under the License is distributed on an
+# "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY
+# KIND, either express or implied.  See the License for the
+# specific language governing permissions and limitations
+# under the License.
+"""Optimized implementation of q_multiply_shift based on LLVM intrinsics"""
+
+import tvm
+from tvm.ir import register_intrin_lowering
+
+
+def _q_multiply_shift_hexagon(op):
+    """
+    Implementation of q_multiply_shift through hexagon intrinsics vmpyewuh and vmpyowh when q == 31.
+
+    Please note that this is introducing a small round-up error for some corner cases with negative
+    shift argument. This is because we are rounding twice instead than only once. I.e.:
+
+        * original q_multiply_shift: round(x*y*2^-s)
+        * hexagon q_multiply_shift: round(round(x*y)*2^-s)
+    """
+    x = op.args[0]
+    y = op.args[1]
+    fractional_bits = op.args[2]
+    shift = op.args[3]
+
+    # Don't use this intrinsic if we don't have a int32x32 vector
+    # or if we are not multiplying q31 numbers
+    if x.dtype != "int32x32" or fractional_bits.value != 31:
+        return op
+
+    # Case 1, shift is negative
+    mul_e_1 = tvm.tir.call_llvm_intrin(
+        op.dtype, "llvm.hexagon.V6.vmpyewuh.128B", tvm.tir.const(2, "uint32"), x, y
+    )
+    mul_o_1 = tvm.tir.call_llvm_intrin(
+        op.dtype, "llvm.hexagon.V6.vmpyowh.rnd.sacc.128B", tvm.tir.const(3, "uint32"), mul_e_1, x, y
+    )
+    fixup = mul_o_1 & (-shift)
+    round_mul = mul_o_1 + fixup
+    out_negative_shift = tvm.tir.call_llvm_intrin(
+        op.dtype, "llvm.hexagon.V6.vaslwv.128B", tvm.tir.const(2, "uint32"), round_mul, shift
+    )
+
+    # Case 2, shift is positive
+    x = x * (1 << (shift))
+    mul_e_2 = tvm.tir.call_llvm_intrin(
+        op.dtype, "llvm.hexagon.V6.vmpyewuh.128B", tvm.tir.const(2, "uint32"), x, y
+    )
+    mul_o_2 = tvm.tir.call_llvm_intrin(
+        op.dtype, "llvm.hexagon.V6.vmpyowh.rnd.sacc.128B", tvm.tir.const(3, "uint32"), mul_e_2, x, y
+    )
+
+    # Select depending on the shift
+    return tvm.tir.Select(shift < 0, out_negative_shift, mul_o_2)
+
+
+register_intrin_lowering(
+    "tir.q_multiply_shift", target="hexagon", f=_q_multiply_shift_hexagon, level=99
+)
diff --git a/tests/python/contrib/test_hexagon/test_fixed_point_multiply.py b/tests/python/contrib/test_hexagon/test_fixed_point_multiply.py
new file mode 100644
index 000000000000..8ee04a649990
--- /dev/null
+++ b/tests/python/contrib/test_hexagon/test_fixed_point_multiply.py
@@ -0,0 +1,140 @@
+# Licensed to the Apache Software Foundation (ASF) under one
+# or more contributor license agreements.  See the NOTICE file
+# distributed with this work for additional information
+# regarding copyright ownership.  The ASF licenses this file
+# to you under the Apache License, Version 2.0 (the
+# "License"); you may not use this file except in compliance
+# with the License.  You may obtain a copy of the License at
+#
+#   http://www.apache.org/licenses/LICENSE-2.0
+#
+# Unless required by applicable law or agreed to in writing,
+# software distributed under the License is distributed on an
+# "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY
+# KIND, either express or implied.  See the License for the
+# specific language governing permissions and limitations
+# under the License.
+
+import tvm.testing
+from tvm import relay
+from tvm.relay.backend import Executor
+from tvm.contrib.hexagon.session import Session
+
+import re
+import numpy as np
+
+
+@tvm.testing.requires_hexagon
+def test_vmpy_intrinsic_presence():
+    """
+    check intrinsic lowering for fixed_point_multiply operation
+    """
+    ishape = (1, 128)
+    a = relay.var("a", relay.TensorType(ishape, "int32"))
+
+    y = relay.fixed_point_multiply(a, 1395864320, 1)  # 1.3
+
+    relay_mod = tvm.IRModule.from_expr(y)
+
+    params = {}
+    target_hexagon = tvm.target.hexagon("v68")
+    executor = Executor("graph", {"link-params": True})
+
+    with tvm.transform.PassContext(opt_level=3):
+        hexagon_lowered = tvm.relay.build(
+            relay_mod,
+            tvm.target.Target(target_hexagon, host=target_hexagon),
+            executor=executor,
+            params=params,
+        )
+
+    asm = hexagon_lowered.lib.get_source("asm")
+
+    # Check that 'vmpye' instruction was generated in asm file.
+    vmpye_regex = re.compile(r"v\d{1,2}.w = vmpye\(v\d{1,2}.w,v\d{1,2}.uh\)")
+    assert vmpye_regex.search(asm) is not None
+
+    # Check that 'vmpyo' instruction was generated in asm file.
+    vmpyo_regex = re.compile(r"v\d{1,2}.w \+= vmpyo\(v\d{1,2}.w,v\d{1,2}.h\):<<1:rnd:sat:shift")
+    assert vmpyo_regex.search(asm) is not None
+
+
+def build_module(relay_mod, target):
+    params = {}
+    executor = Executor("graph", {"link-params": True})
+    lowered = tvm.relay.build(
+        relay_mod,
+        tvm.target.Target(target, host=target),
+        executor=executor,
+        params=params,
+    )
+    return lowered
+
+
+def run_module(graph_mod, inputs):
+    graph_mod.set_input(**inputs)
+    graph_mod.run()
+    output = graph_mod.get_output(0).numpy()
+    return output
+
+
+@tvm.testing.requires_hexagon
+def test_fixed_point_multiply_positive_shift(hexagon_session: Session):
+    ishape = (6, 32)
+    a = relay.var("a", relay.TensorType(ishape, "int32"))
+    multiplier, shift = (1395864320, 1)  # 1.3
+    fpm = relay.fixed_point_multiply(a, multiplier, shift)
+    relay_mod = tvm.IRModule.from_expr(fpm)
+
+    with tvm.transform.PassContext(opt_level=3):
+        # Compile for Hexagon...
+        hexagon_lowered = build_module(relay_mod, tvm.target.hexagon("v68"))
+
+        # Compile for LLVM...
+        llvm_lowered = build_module(relay_mod, tvm.target.Target("llvm"))
+
+    data_in = np.arange(-96, 96).reshape(ishape)
+    inputs = {"a": data_in}
+
+    # Run hexagon...
+    graph_mod = hexagon_session.get_executor_from_factory(hexagon_lowered)
+    hexagon_output = run_module(graph_mod, inputs)
+
+    # Run llvm...
+    llvm_graph_mod = tvm.contrib.graph_executor.GraphModule(llvm_lowered["default"](tvm.cpu(0)))
+    expected_output = run_module(llvm_graph_mod, inputs)
+
+    tvm.testing.assert_allclose(hexagon_output, expected_output)
+
+
+@tvm.testing.requires_hexagon
+def test_fixed_point_multiply_negative_shift(hexagon_session: Session):
+    ishape = (6, 32)
+    a = relay.var("a", relay.TensorType(ishape, "int32"))
+    multiplier, shift = (1288490240, -2)  # 0.15
+    fpm = relay.fixed_point_multiply(a, multiplier, shift)
+    relay_mod = tvm.IRModule.from_expr(fpm)
+
+    with tvm.transform.PassContext(opt_level=3):
+        # Compile for Hexagon...
+        hexagon_lowered = build_module(relay_mod, tvm.target.hexagon("v68"))
+
+        # Compile for LLVM...
+        llvm_lowered = build_module(relay_mod, tvm.target.Target("llvm"))
+
+    data_in = np.arange(-96, 96).reshape(ishape)
+    inputs = {"a": data_in}
+
+    # Run hexagon...
+    graph_mod = hexagon_session.get_executor_from_factory(hexagon_lowered)
+    hexagon_output = run_module(graph_mod, inputs)
+
+    # Run llvm...
+    llvm_graph_mod = tvm.contrib.graph_executor.GraphModule(llvm_lowered["default"](tvm.cpu(0)))
+    expected_output = run_module(llvm_graph_mod, inputs)
+
+    tvm.testing.assert_allclose(hexagon_output, expected_output, atol=1)
+
+
+if __name__ == "__main__":
+    tvm.testing.main()