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Chinese Smartphone market may remain weak through 2023, IDC says

28Jul

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Technology

Chinese Smartphone market may remain weak through 2023, IDC says

[ad_1] Chinese smartphone shipments fell 2.1% in the second quarter, extending a market decline that may persist throughout 2023, research house IDC said. The decline came despite widespread discounting during the “6.18” online shopping festival in June. Apple Inc. was one of the few brands that managed to grow business, by 6.1%, IDC estimated in its latest market report. Shipments from Honor Device Co. and Xiaomi Corp. both declined by more than 17% in the quarter, while Huawei Technologies Co. lifted shipments 76.1%, mainly via the premium P60 series and foldable devices. Oppo maintained pole position with 17.7% market share, followed by fellow Chinese brands Vivo and Honor. China's smartphone market, the world's largest, is struggling alongside a sputtering economy. Shipments have s...

Xiaomi to Slash Smartphone Line After Conceding India Missteps

[ad_1] Xiaomi Corp. plans to focus on 5G smartphones and a leaner product portfolio in India, trying to claw back market share lost to rivals including South Korea's Samsung Electronics Co. in its second-biggest market.China's Xiaomi held the smartphone lead in India for years before regulatory headaches and a too-vast product portfolio — which by its own admission confused customers — led to its decline. In the quarter to March, Xiaomi ranked fourth behind Samsung, Oppo, and Vivo in India's smartphone market, according to researcher IDC Corp. India is one of the most intensely contested markets for the world's biggest phone brands, with companies such as iPhone maker Apple Inc. pushing to boost sales in the planet's most populous country. Xiaomi is betting on a gradual recovery, deepen...

What Xiaomi’s Billionaire CEO Lei Jun Is Reading to Build Electric Vehicles

[ad_1] Xiaomi CEO Lei Jun may be busy launching new smartphones, but it seems he’s still focused on his carmaking ambitions. Xiaomi Corp. co-founder Lei Jun may be busy launching new smartphones, but it seems he's still laser focused on his carmaking ambitions. The billionaire businessman has been asking friends in the auto industry for books to read to better understand the sector, according to a post he shared on Weibo, China's Twitter-esque social media service. Lei is personally spearheading a $10 billion project to make Xiaomi-branded electric vehicles by 2024. Lei compiled a reading list for China's week-long National Day holiday, chock full of biographies. His 12 recommendations include former Volkswagen AG CEO Ferdinand Piech's Auto.Biographie and more esoteric titles on ...