According to the results of the last quarter
Xiaomi is experiencing financial difficulties. According to Reuters, the Chinese giant’s fourth-quarter revenue fell 22.8%.
During the reporting period, the company earned about $9.6 billion, which is 22.8% less than a year earlier. The fall is blamed on the decline in demand in the market as a whole, which is indeed taking place, but the bottom line is that this is the fourth quarter in a row for Xiaomi when its revenue has fallen.
Xiaomi is actively raising the prices of its smartphones
Net profit in the last quarter completely collapsed by 67.3%, to $212 million. The company notes that it will take time to achieve a significant recovery in sales and profits, and further declines may occur in the first half of 2023.
Recall that Xiaomi began to actively raise prices for its smartphones in Europe. The top Xiaomi 13 Pro was priced at 1300 euros, and Xiaomi 13 Ultra still looms ahead. In addition, the other day it became known that Redmi Note 12 Pro +, which in China costs only $ 290, in Europe will cost buyers a fabulous 500 euros.
