Xiaomi Financial News

Xiaomi Corp reported a revenue drop of 4 per cent in the second quarter on Tuesday, tracking a continued sales decline in China's handset market. Sales dropped to 67.4 billion yuan ($9.24 billion), down from 70.17 billion in the same quarter yuan a year earlier, but beating analysts' estimates of 65.13 billion yuan. Net income rose to 5.14 billion yuan over the period, an increase of 147% from 2.08 billion yuan a year earlier, also beating analysts' expectations. Consumer demand in China's smartphone market continued to shrink in the second quarter, dropping 5% to 64.3 million units, according to research firm Canalys. Xiaomi's shipments declined by 19 per cent to 8.6 million, while in major overseas market India, Xiaomi shipments also fell 22 per cent to 5.4 million units, Canalys said. In light of declining handset sales, Xiaomi is planning to manufacture electric vehicles (EVs) and has received approval from China's state planner, Reuters reported this month. The company has pledged a $10 billion investment over a decade in the automobile business and set a goal of mass car production for the first half of 2024.

Chinese smartphone company operated from a small room in Bengaluru. The brand was mostly unfamiliar to Indians and Jain spent time and effort helping people pronounce the name as it should be. “Shao-mee", Jain told one of the writers of this story, a few months after he had joined.

Smartphone brands are entering the festive season with six to eight weeks of inventory — which puts them in a much better situation than a year ago when there was a pile-up — and market trackers expect strong shipment growth this quarter, fuelled by affordable 5G smartphones. The inventory has come down significantly from the 12-13 weeks' pile-up by the end of the March quarter as a result of aggressive promotions, end-of-life discounting, and roping in of brand ambassadors, market trackers said.

Honor, previously a Huawei spin-off brand, is set to make its India comeback in the coming days. The brand which exited the Indian smartphone space in 2020, roughly around the same time it was sold to Shenzhen Zhixin New Information Technology in the aftermath of US sanctions on parent company Huawei that restricted the sale of hardware components to it by American firms, is re-entering the market under the leadership of Realme co-founder Madhav Sheth who quit in June after a 5-year-long stint at the Oppo offshoot.

Foxconn Hyderabad factory will make AirPods and the factory is expected to begin mass production by December, PTI reported. In the realm of true wireless stereo (TWS), Apple's AirPods take the lead on a global scale. Research company Canalys reported that during the last quarter of 2022, Apple held approximately 36 percent of the TWS market share, securing its dominance.

Samsung Galaxy S24 series is on the horizon, set to make its official debut in February 2024 following the company's recent high-end phone releases this year. A fresh rumor has surfaced suggesting that the Galaxy S24 Ultra will receive enhancements in both its display and camera. According to the reputable leaker Ice Universe (@UniverseIce), the Galaxy S24 Ultra is poised to feature an upgraded display.

foldable phone has not been disclosed yet, it boasts a slimmer profile compared to its predecessor, the Mix Fold 2. Notably, the device features dual E6 OLED displays, with dimensions of 8.03 inches for the inner screen and 6.56 inches for the outer screen. Xiaomi's latest foldable offering, the Xiaomi Mix Fold 3, is available in two color options: Moon Shadow Black and Xingyao Gold.

Pova 5 and Pova 5 Pro models, will launch in India on August 14. Both feature a 6.78-inch full-HD+ display with 120Hz refresh rate, dual rear cameras, and Android 13-based HiOS skin. Pova 5 Pro has an Arc interface with LED lights, powered by MediaTek Dimensity 6080 SoC, while Pova 5 runs on MediaTek Helio G99 SoC.

Chinese smartphone manufacturer, has made an announcement on X regarding the official launch date of the Mi Mix Fold 3 foldable smartphone. This highly anticipated device is set to follow in the footsteps of its predecessor. In addition to this innovative foldable smartphone, there are speculations that the company might unveil the Xiaomi Pad 6 Max tablet and the Redmi K60 Ultra smartphone during the same event.

Apple, HP, Lenovo, Asus and Xiaomi are looking to ship in as many laptops and tablets as possible to the country before import restrictions kick in on November 1, multiple industry executives and analysts said. These firms will increase imports by up to 50% more than what they had initially planned till October end to ensure there is enough pipeline stock for 4-6 months when the new licensing regime for imports of laptops, tablets, and personal computers begins, they said.

Digital Chat Station on Weibo, it is suggested that the Redmi Note 13 Pro+ might come equipped with a 200-megapixel primary rear camera sensor. The report indicates that this camera could incorporate a 4x in-sensor zoom capability, potentially leading to improved quality in zoomed-in photos with enhanced resolution and reduced noise. The upcoming flagship model, Redmi Note 13 Pro+, is rumored to showcase a curved-edge display, marking a first for the Redmi Note series.

Pepperfry cofounder Ambareesh Murty on Monday. Murty, 51, passed away in Leh after a cardiac arrest. His business partner and Pepperfry cofounder Ashish Shah said he has “lost a friend, mentor, brother, soulmate” in Murty.

NEW DELHI : India’s smartphone market is grinding through its second year of contraction, the first time since the market took off 14 years ago, a Mint analysis of data from three market research firms showed. Smartphone shipments that crossed 100 million for the first time in 2015 peaked at 160 million in 2021 before shrinking 10% to 144 million in 2022.

Reliance Jio, Xiaomi, Poco and Samsung across product categories. Government’s notification banning the import of laptop, computers also made headlines. Here’s a recap Reliance Jio has launched an all new JioBook laptop in the country with a price tag of ₹16,499.

While India has not said the new requirement is aimed at China, more than half of its roughly $10 billion in annual imports of personal computers and tablets are Chinese-made. Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on LAC and 24 people were killed. Several Indian government officials, who asked not to be named, said the licensing measure aimed to address a trade imbalance with China. Here are some other Chinese trade and investment ventures affected by Indian measures since 2020:

NEW DELHI : Domestic demand for smartphones continued to be tepid at best, as India saw a fourth straight quarter of annualized shipment declines. A 3 August report by market researcher International Data Corp (IDC) India said shipments of smartphones in India fell 3% year-on-year (y-o-y) to 34 million units shipped during the period—after registering 16%, 27% and 10% y-o-y shipment drops in the three quarters preceding June.

To help you decide which 55-inch Smart TV is best, we have compiled a list of the best 55 Inches Smart TVs in India. Browse through our curated selection to pick the one best suited for your needs.

From personalized keepsakes to trendy fashion accessories and exciting gadgets, these gifts are not only delightful but also affordable, making them an ideal way to express your love and appreciation on this cherished occasion. Show your brother how special he is with these carefully curated Rakhi gifts that are sure to bring a smile to his face and make this Raksha Bandhan truly memorable.

smartphone market shipped 64 million units in the first half of 2023, a decline of 10% on-year, despite the second quarter sequentially outperforming with 34 million shipments, on account of an increased focus in clearing inventory by offering discounts, special schemes and price drops before the start of the festive season, according to a new report from IDC India. The research firm also noted a decline in average selling prices after several consecutive quarters of growth, with ASPs declining 8% sequentially to $241 in Q2.

Financial Times in an interview last week, “We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully and are in compliance with the Indian laws." He added, for good measure, that India was “open to all investments, including Chinese". That these statements were meant for consumption overseas is evident if one looks at the ground reality. China’s BYD Motors has become the latest casualty of India’s undeclared economic cold war with China.

BYD faces an ongoing Indian investigation over allegations that it paid too little tax on imported parts for cars it assembles and sells in the country, two sources with direct knowledge of the matter said. India's Directorate of Revenue Intelligence (DRI) has alleged that China's largest electric vehicle (EV) maker, whose expansion plans have been hit by fractious relations between New Delhi and Beijing, underpaid tax of 730 million rupees ($9 million), one of the sources said. Although BYD has deposited this sum after the DRI's preliminary findings, the source added, the investigation is ongoing and could lead to additional tax charges and penalties.