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Xiaomi's smartphone shipments rebound rapidly in late March

April 01, 2020


Abstract : Chinese electronics company Xiaomi Corporation (1810.HK) saw quick rebound in its smartphone shipments since late March, according to a report by cnstock on Tuesday.

BEIJING, April 1 (Xinhua) -- Chinese electronics company Xiaomi Corporation (1810.HK) saw quick rebound in its smartphone shipments since late March, according to a report by cnstock on Tuesday.

Due to the COVID-19 outbreak worldwide, Xiaomi experienced temporary disruption in production in February and March, but now its production capacity has already recovered to 80 to 90 percent of normal levels.

Sales of Xiaomi's smartphones in Chinese mainland market is relatively less affected due to its advantages in online channels, but the spread of the COVID-19 epidemic may dim the overseas demand for Xiaomi products, especially in the second quarter of 2020.

The company believes that the negative impact is controllable as people need to keep in touch with each other through smart phones and other IoT devices during the special period. Xiaomi remains optimistic about the long-term potential of the overseas markets with a strong global foothold and continuous expansion into new markets.

In addition, user traffic of Xiaomi's internet services such as video and online games recorded solid growth as people spend more time staying at home.

According to the report, Xiaomi also announced its 2019 audited financial results on Tuesday, showing a total revenue of 205.8 billion yuan, up 17.7 percent year-on-year.  (Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)

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