|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||7.05 - 7.21|
|52-week range||5.20 - 9.50|
|Beta (5Y monthly)||1.35|
|PE ratio (TTM)||144.20|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Xiaomi Corp is overhauling its India strategy after misjudging consumer tastes in mobile phones, a costly lapse that has allowed Samsung Electronics to pip the Chinese company to the top spot in the world's second biggest market for the devices. While Xiaomi remained focused on selling mobile phones under 10,000 rupees ($120), Indian consumers were willing to pay up for better looking models with richer features. Those moves have helped Samsung wrest leadership of India's competitive mobile phones market from Xiaomi, with data from Hong Kong-based Counterpoint Research showing it had a 20% market share for the last quarter of 2022 compared to the Chinese company's 18%.
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.
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.