diff --git a/drivers/phy/qualcomm/phy-qcom-qmp-usb.c b/drivers/phy/qualcomm/phy-qcom-qmp-usb.c
index bb905c437a01..b0790bcf0bc8 100644
--- a/drivers/phy/qualcomm/phy-qcom-qmp-usb.c
+++ b/drivers/phy/qualcomm/phy-qcom-qmp-usb.c
@@ -2419,10 +2419,16 @@ static int qmp_usb_probe(struct platform_device *pdev)
 	if (ret)
 		goto err_node_put;
 
+	/*
+	 * Enable runtime PM before creating the PHY, phy_create() only enables
+	 * it on the PHY device if already enabled on the parent. Hold a usage
+	 * reference so callbacks cannot run before qmp->phy is assigned.
+	 */
+	pm_runtime_get_noresume(dev);
 	pm_runtime_set_active(dev);
 	ret = devm_pm_runtime_enable(dev);
 	if (ret)
-		goto err_node_put;
+		goto err_pm_put;
 	/*
 	 * Prevent runtime pm from being ON by default. Users can enable
 	 * it using power/control in sysfs.
@@ -2431,23 +2437,31 @@ static int qmp_usb_probe(struct platform_device *pdev)
 
 	ret = phy_pipe_clk_register(qmp, np);
 	if (ret)
-		goto err_node_put;
+		goto err_pm_put;
 
 	qmp->phy = devm_phy_create(dev, np, &qmp_usb_phy_ops);
 	if (IS_ERR(qmp->phy)) {
 		ret = PTR_ERR(qmp->phy);
 		dev_err(dev, "failed to create PHY: %d\n", ret);
-		goto err_node_put;
+		goto err_pm_put;
 	}
 
 	phy_set_drvdata(qmp->phy, qmp);
 
+	phy_provider = devm_of_phy_provider_register(dev, of_phy_simple_xlate);
+	if (IS_ERR(phy_provider)) {
+		ret = PTR_ERR(phy_provider);
+		goto err_pm_put;
+	}
+
 	of_node_put(np);
 
-	phy_provider = devm_of_phy_provider_register(dev, of_phy_simple_xlate);
+	pm_runtime_put(dev);
 
-	return PTR_ERR_OR_ZERO(phy_provider);
+	return 0;
 
+err_pm_put:
+	pm_runtime_put_noidle(dev);
 err_node_put:
 	of_node_put(np);
 	return ret;