Xiaomi 1Q revenue and smartphone sales decline amid headwinds

13 articles · Updated · The Wall Street Journal · May 1

Citi said revenue likely fell 13% year on year to 97 billion yuan, while smartphone sales dropped 14% and global shipments slid 19% to 33.8 million units.
The company also lost its place among China’s top five smartphone vendors, as it cut low-margin handset shipments to defend profitability against higher memory prices.
Citi lowered Xiaomi’s 2026-2028 smartphone shipment forecasts to 135 million, 140 million and 145 million, and said electric-vehicle headwinds were also likely to weigh on first-quarter results.

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