Xiaomi’s revenue for the fourth calendar quarter of 2022 was 66.5 billion yuan (about $9.7 billion at the March 24 exchange rate), which is 23% less than the same period last year. In this respect informs portal Yahoo! finance.
It was noted that the division responsible for smartphones showed the largest accumulation – revenues in this segment fell by 27%. The company attributes this to the decline in smartphone demand amid global economic instability and the COVID-19 outbreaks in China in 2022.
Home appliances and home IoT devices was another segment with negative results, with revenue down 6.1% to 79.8 billion yuan.
Meanwhile, Xiaomi has identified several segments that have grown over the specified time. For example, the company’s global TV sales rose 0.6%. Internet services also increased by 0.4%. This segment earned Xiaomi 28.3 billion yuan.
However, it was learned that the net profit of the company fell almost tenfold to 2.5 billion yuan.
Formerly socialbites.ca Wrote About the fact that Xiaomi has introduced a smart jump rope, without which it is impossible to stumble.