Straits Times Index
3,365.67 -12.62 (-0.37%) S&P 500
4,076.60 +58.83 (+1.46%) Dow
34,086.04 +368.95 (+1.09%) Nasdaq
11,584.55 +190.74 (+1.67%) BTC-USD
23,136.39 +327.75 (+1.44%) CMC Crypto 200
519.63 +0.84 (+0.16%)
Xiaomi Corporation (1810.HK)
- Reuters
Xiaomi revenue falls in third quarter as COVID-19 controls bite
SHANGHAI (Reuters) -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. Sales in the third quarter reached 70.17 billion yuan ($9.81 billion), down from 78.063 billion yuan the same quarter a year ago, slightly missing analyst expectations of 70.52 billion yuan. Net income fell 59.1% to 2.12 billion over the period from 5.176 billion yuan one year ago.
- Reuters
India says Xiaomi misled Deutsche Bank on 'illegal' royalty payments
Indian investigators have alleged Chinese smartphone maker Xiaomi Corp's India unit misled its banker Deutsche Bank AG for years by claiming it had an agreement for payment of royalties when it had none, legal documents showed. Xiaomi has locked horns with India's financial crime fighting agency, the Enforcement Directorate, since it froze $670 million of the company's bank assets saying a probe found the smartphone seller made "illegal remittances" to U.S. chip firm Qualcomm and others in the "guise" of royalties.
- Bloomberg
What Xiaomi’s billionaire CEO Lei Jun is reading to build EVs
Xiaomi's co-founder Lei Jun may be busy launching new smartphones, but it seems he’s still laser focused on his carmaking ambitions.
