Xiaomi Revenue Fails to Meet Expectations as Competition Intensifies
Chinese smartphone maker Xiaomi on Tuesday reported a smaller than expected 8.2 percent rise in third-quarter revenue, hurt by intensifying competition from domestic rivals Oppo and Vivo. Sales rose to CNY 78.06 billion (roughly Rs. 90,910 crore) in the three months to September 30. Analysts had expected CNY 79.20 billion (roughly Rs. 92,300 crore), Refinitiv data shows. Profit … Read more