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Xiaomi Confirms Quarterly Profit Decline Due to Rising Memory Costs
China's Xiaomi has confirmed its first quarterly profit decline in three years, attributed to rising memory costs and other market pressures.
24 Mar, 10:27 — 24 Mar, 11:56
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wsjHigh35d ago
Xiaomi Quarterly Profit Falls Amid Rising Memory Costs - WSJ
Xiaomi Quarterly Profit Falls Amid Rising Memory Costs WSJ
Read full article →SCMPMostly Factual35d ago
Xiaomi profit drops 27% on weaker smartphone sales as Chinese firm’s EV growth slows
Xiaomi, the Chinese smartphone and electric vehicle (EV) maker, reported that fourth-quarter net profit dropped 27 per cent from a year earlier, as weaker sales cut into margins. Profit fell to 6.5 billion yuan (US$943 million), a 47 per cent plunge from the previous quarter and the lowest quarterly number in a year. It was also the first quarter-on-quarter decline since the second quarter of 2024. Fourth-quarter revenue rose 7.3 per cent from a year earlier and 3 per cent compared with the...
By Themis Qi
Read full article →Coverage Timeline
First report: Reuters · 24 Mar, 09:39|Full coverage: 3 · 2h|Window: 2h
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