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Xiaomi posts 20pct revenue fall, hurt by China COVID curbs
Aggregated Source: ChinaTechNews.com

[Xiaomi posts 20pct revenue fall, hurt by China COVID curbs]

China’s Xiaomi Corp posted a steep drop in second quarter revenue on Friday as the world’s biggest smartphone market shrank, hit by strict COVID restrictions.

Sales fell 20 percent year-on-year to 70.17 billion yuan ($10.31 billion), missing estimates and marking a steeper decline from the previous quarter when the company posted its first revenue drop since listing.

Xiaomi posts 20pct revenue fall, hurt by China COVID curbs comes via ChinaTechNews.com.

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