Xiaomi sales – pressnews

[ad_1] Xiaomi Corp.’s quarterly revenue fell almost 10% as it battled a slumping global smartphone market and weak consumer demand at home. Xiaomi Corp.'s quarterly revenue fell almost 10% as it battled a slumping global smartphone market and weak consumer demand at home.The Beijing-based company logged sales of 70.5 billion yuan ($9.85 billion) and net loss of 1.5 billion yuan for the quarter through September, reflecting a writedown of almost 3 billion yuan on items such as investment losses. Analysts had expected 70.2 billion yuan revenue and 1.8 billion yuan net profit on average. Adjusted net income exceeded analysts' estimates. China's Covid Zero policy has sown chaos across the country's tech industry and supply chains, depressing economic activity. At the same time, electronic...

[ad_1] The global smartphone market had its worst third quarter since 2014. he global smartphone market had its worst third quarter since 2014 as economic headwinds pushed consumers to delay discretionary purchases like personal electronics.Shipments of smartphones around the world fell 9% in the three months ended September, extending a decline that's lasted the entirety of 2022, according to market research firm Canalys. The downward trend in demand is likely to continue for a further nine months, Canalys added. Interest rate hikes and rising energy prices have dampened consumer appetites this year, with China's economic slowdown and Covid-19 lockdowns playing a key role in sapping momentum for smartphone sales. Domestic players like Xiaomi Corp., Vivo and Oppo have all registered d...

Tag: Xiaomi sales

Xiaomi Quarterly Sales Fall on Waning Smartphone Demand

Global Smartphone Demand Continues Fall as Economic Woes Hit