Xiaomi Corporation (1810.HK)
- Bloomberg
Xiaomi Logs First Revenue Fall After Covid, War Hurt Demand
(Bloomberg) -- Xiaomi Corp. posted its first quarterly revenue decline on record after Beijing’s strict Covid containment policies and global component shortages crippled smartphone sales.Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertBroadcom in Talks to Acquire Cloud Company VMwareA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsStocks Rise After Biden Comments; Dollar Drops: Markets WrapHow an Energy Expert Triggered Vladimir Putin With One WordChina’
- Reuters
Xiaomi dealt 'heavy blow' in Q1 by COVID, chip shortages
SHENZHEN, China (Reuters) -Chinese smartphone maker Xiaomi Corp reported a fall in first-quarter revenue as COVID-19 controls and lockdowns hit demand in China while broader economic headwinds including Russia's invasion of Ukraine added to costs. He noted that COVID outbreaks first in Hong Kong and then in Shanghai had disrupted shipments, with the months-long Shanghai lockdown and the conflict in Ukraine likely to weigh on revenues in the second quarter. Smartphone shipments fell 22.1% to 38.5 million units in the quarter, Xiaomi said in a statement on Thursday.
- Bloomberg
Tencent Leads China Tech Selloff as Earnings Worries Mount
(Bloomberg) -- Chinese tech stocks slumped as weak corporate earnings coupled with a dimming global growth outlook intensified selling. Most Read from BloombergWalmart’s Troubles Should Have Everyone on High AlertBroadcom in Talks to Acquire Cloud Company VMwareA $5 Trillion ‘Wealth Shock’ Is Cracking Americans’ Nest EggsStocks Rise After Biden Comments; Dollar Drops: Markets WrapHow an Energy Expert Triggered Vladimir Putin With One WordThe Hang Seng Tech Index closed 4% lower on Thursday, with
