Chinese smartphone maker Xiaomi Corp on Wednesday reported a 9.7% fall in third-quarter revenue, hit by China's COVID-19 restrictions and softening consumer demand.
People walk past Xiaomi, a Chinese manufacturer of consumer electronics, store in Mumbai, India, May 11, 2022. REUTERS/Francis Mascarenhason Wednesday reported a 9.7% fall in third-quarter revenue, hit by China's COVID-19 restrictions and softening consumer demand.
The electronics sector has taken a large hit in turn. Shipments of smartphones in the third quarter fell 11% in China and 9% globally, research firm Canalys has said.
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