Xiaomi quarterly sales fall on waning smartphone demand

[Jan]

Xiaomi sales fall

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.

[Bloomberg]

 

[Dan C]

Not much to worry about for Xiaomi.

 

[RonSwanson]

Not much to worry about for Xiaomi.

Agreed. They make a quality product at an affordable price, and that 's the reason why people do not need new ones so often. Their drop in revenue also mirrors the global smartphone demand.