reuters.com

Xiaomi Profit Falls as Smartphone Margins Squeeze, EV Sales Rise

Xiaomi logoXiaomi
Sig3.16Sen-2.26Env+0.35Soc+0.15Gov0.00

Xiaomi posted a 42.6% fall in second-quarter adjusted profit to 6.2 billion yuan, missing analysts estimates, as historically high memory and other component costs squeezed margins. Revenue declined 6.1% to 108.9 billion yuan. Smartphone revenue dropped 7.5% and gross margin fell to 8.5%. EV revenue rose 15.9% to 23.9 billion yuan, and vehicle deliveries increased.

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