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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Chinese Smartphone Maker Xiaomi’s Revenue and Profit Slides

Xiaomi Xiaomi Corp China Covid-19 Canalys
This photograph shows the Xiaomi logo at the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 27, 2023. (AFP)

Chinese smartphone maker Xiaomi Corp on Friday reported a record drop in fourth-quarter revenue as the company weathered a slowdown in consumption and disruptions due to China's COVID-19 curbs.

Sales in the fourth quarter of 2022 reached 66.05 billion yuan ($9.6 billion), down 22.8% from 85.58 billion yuan a year earlier.

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